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November 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Port Washington, Business Loans > Port Washington State Bank Port Washington Business Loans > Beauty Shops Loan | ||||
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Business Loans from Port Washington State Bank
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Port Washington State Bank SBA Loan to Beauty Shops CompanyPort Washington State Bank 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 Port Washington State Bank, out of Port Washington, Wisconsin. The loan was granted and they received $32,000 to help grow their Fredonia, Wisconsin business. SBA Loan Borrower COMPANY TYPE: BEAUTY SHOPS SBA Loan Lender PORT WASHINGTON STATE 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 7231 - Beauty Shops Loan Approval Date 2/29/2000 Loan Approval Gross Amount $32,000 Loan Approval from the SBA Of the total $32,000 loan amount, the SBA guaranteed $25,600. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Port Washington State 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. Related Links: How Much Venture Capital Is There? Small Bank Loans in Port Washington, Wisconsin
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