Raising Money for Drinking Places

With these business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $150,000 was given to a Wisconsin entrepreneur in 2002.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with State Bank Of Cross Plains, out of Cross Plains, Wisconsin. The loan was granted and they received $150,000 to help grow their Madison, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MADISON, WI 53703

SBA Loan Lender

STATE BANK OF CROSS PLAINS
1205 MAIN ST
CROSS PLAINS, WI 53528

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. 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

5812 - Eating Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

2/28/2002

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 a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 16 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State Bank Of Cross Plains had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Bank Of Cross Plains 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 Incubators

SBA Participating Banks in Cross Plains, Wisconsin

SBA Wisconsin Banks