Hartford, Wisconsin Entrepreneur Gets a Small Business Loan

Small business loans in Wisconsin are are few and far betweeen these days. We take a look at one Wisconsin small business loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Hartford, Wisconsin was a top priority for this small company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from First Bank Financial Centre. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS
HARTFORD, WI 53027

SBA Loan Lender

FIRST BANK FINANCIAL CENTRE
155 W WISCONSIN AVE
OCONOMOWOC, WI 53066

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7539 - Automotive Repair Shops

NAICS Code

811112 - Automotive Exhaust System Repair

Loan Approval Date

2/17/2004

Loan Approval Gross Amount

$405,000

Loan Approval from the SBA

Of the total $405,000 loan amount, the SBA guaranteed $303,750.

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 4 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First Bank Financial Centre and they will explain how you can get an SBA loan for your company.

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 to Raise Money

SBA 7A Banks in Oconomowoc, Wisconsin

Browse All Business Loan Sources for Wisconsin