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November 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > La Crosse, Business Loans > Park Bank La Crosse Business Loans > Legal Services Loan | ||||
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Wisconsin Bank SBA Loans
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La Crosse, Wisconsin Bank Gives SBA Loan to Legal Services CompanyThinking about meeting with a La Crosse, Wisconsin bank about a business loan? Here's one Wisconsin business loan, issued by a La Crosse bank, that was approved by the SBA. Applying for an SBA loan with Park Bank worked out well for our friends at one local company in La Crosse, Wisconsin. They received an SBA loan for $150,000. Way to go! SBA Loan Borrower COMPANY TYPE: LEGAL SERVICES SBA Loan Lender PARK BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 8111 - Legal Services NAICS Code 541110 - Lawyers Loan Approval Date 5/7/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My 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. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Park Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Family and Friend Investors - Your First Financiers Find an SBA Lender in La Crosse, Wisconsin
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