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December 20, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Manitowoc, Business Loans > Investors Community Bank Manitowoc Business Loans > Hobby, Toy, And Game Shops Loan | ||||
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Fond Du Lac, Wisconsin Bank for SBA Loans
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Investors Community Bank Gives Business Loan to Hobby, Toy, And Game Shops CompanyBusiness loans in Wisconsin are hard to find these days. We take a look at one Wisconsin business loan, provided by a Wisconsin bank, that was approved by the SBA. By giving the right information to Investors Community Bank, this Fond Du Lac, Wisconsin business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS SBA Loan Lender INVESTORS COMMUNITY BANK 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 5945 - Hobby, Toy, and Game Shops NAICS Code 451120 - Hobby, Toy, and Game Stores Loan Approval Date 8/19/2003 Loan Approval Gross Amount $102,000 Loan Approval from the SBA Of the total $102,000 loan amount, the SBA guaranteed $86,700. More Information on This SBA Loan The borrower borrowed this money for a new 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 SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you are interested in getting money to start a business or need money for an existing business, an SBA loan can be a great funding source The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Investors Community Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Investors Community Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding From a Venture Capitalist SBA 7A Lenders in Manitowoc, Wisconsin
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