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November 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Chocolate And Confectionery Manufacturing From Cacao Beans Loan | ||||
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Raising Money in Madison, Wisconsin With SBA Loans
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Borrowing Money for Chocolate and Confectionery Manufacturing from Cacao BeansWith these loans for chocolate and confectionery manufacturing from cacao beans, the SBA guarantees the lender that the loan will be repaid. This chocolate and confectionery manufacturing from cacao beans loan for $10,000 was given to a Wisconsin entrepreneur in 2004. This small firm knew how to go about getting a business bank loan. Based in Madison, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was U.S. Bank National Association, based in Cincinnati, Ohio. SBA Loan Borrower COMPANY TYPE: CHOCOLATE AND CONFECTIONERY MANUFACTURING FROM CACAO BEANS SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311320 - Chocolate and Confectionery Manufacturing from Cacao Beans Loan Approval Date 7/30/2004 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $8,500. 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 only one employee. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 3 existing jobs. Start the Process for Getting an SBA Loan Today! 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. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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 Cincinnati, Ohio
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