Fitchburg, Wisconsin Lender Lends Money to Eating Places Company

Find Fitchburg, Wisconsin banks that specialize in SBA loans and know how to work with entrepreneurs. Oak Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Madison, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from Oak Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MADISON, WI 53719

SBA Loan Lender

OAK BANK
5951 MCKEE RD, STE 100
FITCHBURG, WI 53719

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/7/2003

Loan Approval Gross Amount

$1,155,250

Loan Approval from the SBA

Of the total $1,155,250 loan amount, the SBA guaranteed $866,438.

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. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Remember, you 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.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Oak Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 - Friends and Family

SBA Approved Banks in Fitchburg, Wisconsin

Find an SBA Lender in Wisconsin