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November 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > La Crosse, Business Loans > River Bank La Crosse Business Loans > Crop Preparation Service For Market Loan | ||||
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River Bank Small Business Holmen
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Holmen, Wisconsin Business Gets SBA-Guaranteed Funding from River BankRiver Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Wisconsin entrepreneur who tapped into the power of SBA loans. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Holmen, Wisconsin was able to borrow $1,450,000 from River Bank. The SBA made the loan possible by guaranteeing $999,920 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: CROP PREPARATION SERVICE FOR MARKET SBA Loan Lender RIVER BANK 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 7A business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 0723 - Crop Preparation Service for Market NAICS Code 115114 - Postharvest Crop Activities Loan Approval Date 10/30/2003 Loan Approval Gross Amount $1,450,000 Loan Approval from the SBA Of the total $1,450,000 loan amount, the SBA guaranteed $999,920. 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 6 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. River Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, River 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: Determining Proper Capital Structure for a Business Where to Get an SBA Loan in La Crosse, Wisconsin
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