Monona, Wisconsin Bank Lends Money to Home Furnishings Stores Company in Madison, Wisconsin

Thinking about meeting with a Monona, Wisconsin bank about a business loan? Here's one Wisconsin business loan, issued by a Monona bank, that was approved by the SBA.

Applying for an SBA loan with Monona State Bank worked out well for our friends at one local firm in Madison, Wisconsin. They got an SBA loan for $278,800. Sweet!

SBA Loan Borrower

COMPANY TYPE: HOME FURNISHINGS STORES
MADISON, WI 53713

SBA Loan Lender

MONONA STATE BANK
5515 MONONA DR
MONONA, WI 53716

The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

5/3/2007

Loan Approval Gross Amount

$278,800

Loan Approval from the SBA

Of the total $278,800 loan amount, the SBA guaranteed $139,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. This SBA loan request indicated that the loan would help retain 13 existing jobs.

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

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

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:

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Find an SBA Lender in Monona, Wisconsin

Wisconsin SBA Bank Lenders