Raising Money for Manufacturing
Looking for business loans for manufacturing? Try the SBA. This $50,000 manufacturing loan was issued by a Wisconsin bank.
This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Royal Cu, out of Eau Claire, Wisconsin. The loan was granted and they received $50,000 to help grow their Chippewa Falls, Wisconsin business.
SBA Loan Borrower
COMPANY TYPE: HOTELS AND MOTELS
CHIPPEWA FALLS, WI 54729
SBA Loan Lender
ROYAL CU
200 RIVERFRONT TER
EAU CLAIRE, WI 54703
The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to to entrepreneurs who might have trouble getting a conventional bank loan.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7011 - Hotels and Motels
NAICS Code
339999 - Manufacturing
Loan Approval Date
10/28/2005
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $42,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. This SBA loan request did not indicate that the business planned to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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.
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