Borrowing Money for Boat Dealers

With these loans for boat dealers, the SBA guarantees the lender that the loan will be repaid. This boat dealers loan for $893,700 was given to a Wisconsin entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burlington, Wisconsin was able to borrow $893,700 from Bank Of The West. The SBA made the loan possible by guaranteeing $670,275 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: BOAT DEALERS
BURLINGTON, WI 53105

SBA Loan Lender

BANK OF THE WEST
180 MONTGOMERY ST
SAN FRANCISCO, CA 94104

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5551 - Boat Dealers

NAICS Code

441222 - Boat Dealers

Loan Approval Date

11/12/2003

Loan Approval Gross Amount

$893,700

Loan Approval from the SBA

Of the total $893,700 loan amount, the SBA guaranteed $670,275.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in San Francisco, California

Getting an SBA Loan in California