Janesville, Wisconsin Bank Lends Money to Photographic Studios, Portrait Company in Janesville, Wisconsin

Get to know Janesville, Wisconsin banks that specialize in SBA loans and know how to work with entrepreneurs. Johnson Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Janesville, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Johnson Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: PHOTOGRAPHIC STUDIOS, PORTRAIT
JANESVILLE, WI 53546

SBA Loan Lender

JOHNSON BANK
1 S MAIN ST
JANESVILLE, WI 53545

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7221 - Photographic Studios, Portrait

NAICS Code

541921 - Photography Studios, Portrait

Loan Approval Date

5/11/2001

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $55,250.

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 3 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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