Eau Claire, Wisconsin Business Gets SBA-Guaranteed Funding from State Bank Financial

An SBA loan from State Bank Financial typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Eau Claire, Wisconsin business owner got a $500,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Eau Claire, Wisconsin, they applied for and received an SBA-guaranteed loan in 2002. The lending bank was State Bank Financial, based in La Crosse, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: GROCERIES, GENERAL LINE
EAU CLAIRE, WI 54703

SBA Loan Lender

STATE BANK FINANCIAL
401 MAIN ST
LA CROSSE, WI 54601

This lender issued this SBA bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began 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

5141 - Groceries, General Line

NAICS Code

422490 - Grocery and Related Products Wholesalers

Loan Approval Date

6/27/2002

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

While you may be able to find business people willing to loan money, 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.

Related Links:

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