Business Loans for Residential Care Facilities

With these business loans for residential care facilities, the SBA guarantees the lender that the loan will be repaid. This residential care facilities loan for $275,000 was given to a Wisconsin entrepreneur in 2003.

This business knew how to go about getting a business bank loan. Based in Loganville, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Community Bank Group, based in Reedsburg, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: RESIDENTIAL CARE
LOGANVILLE, WI 53943

SBA Loan Lender

COMMUNITY BANK GROUP
201 MAIN ST
REEDSBURG, WI 53959

This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8361 - Residential Care

NAICS Code

623990 - Residential Care Facilities

Loan Approval Date

1/29/2003

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $206,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Group had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Group made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Cash Advances

Find an SBA Lender in Reedsburg, Wisconsin

SBA Participating Banks in Wisconsin