Software Reproducing Loans

With these loans for software reproducing, the SBA guarantees the lender that the loan will be repaid. This software reproducing loan for $50,000 was given to a Wisconsin entrepreneur in 2002.

This company knew how to go about getting a business bank loan. Based in Lacrosse, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Merchants Bank, based in Onalaska, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: PREPACKAGED SOFTWARE
LACROSSE, WI 54601

SBA Loan Lender

MERCHANTS BANK
3140 MARKET PLACE RD
ONALASKA, WI 54650

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7372 - Prepackaged Software

NAICS Code

334611 - Software Reproducing

Loan Approval Date

4/15/2002

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

The Friends and Family Network

Best Onalaska, Wisconsin Banks for Small Business

SBA Wisconsin Lenders