Growing Company Gets a Wisconsin Bank Loan

Bank loans in Wisconsin are hard to find these days. We take a look at one Wisconsin bank loan, provided by a Wisconsin bank, that was approved by the SBA.

This company, based in Holmen, Wisconsin, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from River Bank. We've got the inside scoop on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: CASH GRAINS, N.E.C
HOLMEN, WI 54636

SBA Loan Lender

RIVER BANK
4401 MORMON COULEE RD
LA CROSSE, WI 54601

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

0119 - Cash Grains, N.E.C

NAICS Code

115114 - Postharvest Crop Activities

Loan Approval Date

10/28/2004

Loan Approval Gross Amount

$1,450,000

Loan Approval from the SBA

Of the total $1,450,000 loan amount, the SBA guaranteed $987,407.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

We can help you find the best banks for small businesses in Holmen or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Angel Investors

Small Bank Loans in La Crosse, Wisconsin

SBA Wisconsin Lenders