SBA Loan from M&i Marshall & Ilsley Bank Helps Electrical Machinery, Equipment, And Supplies Company
M&i Marshall & Ilsley Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wisconsin entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in Little Chute, Wisconsin was an essential business goal for this firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from M&i Marshall & Ilsley Bank, operating out of Appleton, Wisconsin. Here are the details on this Wisconsin small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL MACHINERY, EQUIPMENT, AND SUPPLIES
LITTLE CHUTE, WI 54140
SBA Loan Lender
M&I MARSHALL & ILSLEY BANK
221 W COLLEGE AVE
APPLETON, WI 54911
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
3699 - Electrical Machinery, Equipment, and Supplies
NAICS Code
335999 - Electrical Equipment and Component Manufacturing
Loan Approval Date
10/19/2001
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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had only one employee. The SBA loan documents did not indicate that the company 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?
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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:
Obtaining Funding From a Venture Capitalist
Banks in Appleton, Wisconsin
Getting an SBA Loan in Wisconsin