Getting an SBA Loan for Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

With these SBA loans for electrical apparatus and equipment, wiring supplies, and related equipment, the SBA guarantees the lender that the loan will be repaid. This electrical apparatus and equipment, wiring supplies, and related equipment loan for $800,000 was given to a Wisconsin entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kimberly, Wisconsin was able to borrow $800,000 from M&i Marshall & Ilsley Bank. The SBA made the loan possible by guaranteeing $600,000 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: ELECTRICAL APPARATUS AND EQUIPMENT, WIRING SUPPLIES, AND RELATED EQUIPMENT
KIMBERLY, WI 54136

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
770 N WATER ST
MILWAUKEE, WI 53202

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423610 - Electrical Apparatus and Equipment, Wiring Supplies, and Related Equipment

Loan Approval Date

8/12/2004

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

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 29 employees. The SBA loan documents did not indicate that the business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $800,000 loan. Remember, if it to be, it is up to me!

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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