 |
 |
November 21, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Hayward, Business Loans > Peoples Bank Of Wisconsin Hayward Business Loans > Plumbing And Heating Equipment And Supplies Merchant Wholesaler Loan | ||||
 |
||||
How to Get an SBA Loan from Peoples Bank Of Wisconsin
|
||||
 |
Peoples Bank Of Wisconsin SBA Loan to Plumbing And Heating Equipment And Supplies Merchant Wholesaler CompanyPeoples Bank Of Wisconsin is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Wisconsin entrepreneur who tapped into the power of SBA loans. This business 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 2007. The lending bank was Peoples Bank Of Wisconsin, based in Hayward, Wisconsin. SBA Loan Borrower COMPANY TYPE: PLUMBING AND HEATING EQUIPMENT AND SUPPLIES MERCHANT WHOLESALER SBA Loan Lender PEOPLES BANK OF WISCONSIN This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423720 - Plumbing and Heating Equipment and Supplies Merchant Wholesaler Loan Approval Date 3/9/2007 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $87,500. 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 indicated that the loan would help retain 12 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Where to Get an SBA Loan in Hayward, Wisconsin Where to Get an SBA Loan Wisconsin
|
|
||
|
||||
|
|
||||