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November 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Kenosha, Business Loans > Southport Bank Kenosha Business Loans > Floor Covering Stores Loan | ||||
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Raising Money in Kenosha, Wisconsin With SBA Loans
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Southport Bank Gives SBA Loan to Floor Covering Stores CompanySmall 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 Kenosha, Wisconsin was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Southport Bank. Here are the details on this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: FLOOR COVERING STORES SBA Loan Lender SOUTHPORT 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. NAICS Code 442210 - Floor Covering Stores Loan Approval Date 4/11/2005 Loan Approval Gross Amount $141,500 Loan Approval from the SBA Of the total $141,500 loan amount, the SBA guaranteed $120,275. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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:
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