Fitchburg, Wisconsin Business Gets SBA-Guaranteed Funding from State Bank Of Cross Plains

State Bank Of Cross Plains has a track record as a leading provider of SBA loans. Find out how this Wisconsin entrepreneur received an SBA loan from them.

This small firm received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with State Bank Of Cross Plains, out of Middleton, Wisconsin. The loan was granted and they received $66,500 to help grow their Fitchburg, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
FITCHBURG, WI 53719

SBA Loan Lender

STATE BANK OF CROSS PLAINS
8301 UNIVERSITY AVE
MIDDLETON, WI 53562

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/28/2000

Loan Approval Gross Amount

$66,500

Loan Approval from the SBA

Of the total $66,500 loan amount, the SBA guaranteed $53,200.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

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 State Bank Of Cross Plains 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.

Related Links:

Choosing VC Firms

SBA Participating Banks in Middleton, Wisconsin

Getting a Business Loan in Wisconsin