Borrowing Money for Industrial Launderers

Looking for loans for industrial launderers? Talk to a banker who works with the SBA. This $52,700 industrial launderers loan was issued by a Wisconsin bank.

This small firm knew how to go about getting a business bank loan. Based in Eagle River, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was River Valley Bank, based in Wausau, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL LAUNDERERS
EAGLE RIVER, WI 54521

SBA Loan Lender

RIVER VALLEY BANK
327 N 17TH AVE
WAUSAU, WI 54401

The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

812332 - Industrial Launderers

Loan Approval Date

5/24/2007

Loan Approval Gross Amount

$52,700

Loan Approval from the SBA

Of the total $52,700 loan amount, the SBA guaranteed $26,350.

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 15 employees. The SBA loan documents indicated that the loan would help retain 15 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into River Valley Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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