Oak Bank Gives Bank Loan to Painting And Wall Covering Contractors Company

SBA loans in Wisconsin are are few and far betweeen these days. We take a look at one Wisconsin SBA loan, provided by a Wisconsin bank, that was approved by the SBA.

This business, based in Madison, Wisconsin, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Oak Bank. We've got the inside scoop on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS
MADISON, WI 53704

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238320 - Painting and Wall Covering Contractors

Loan Approval Date

7/5/2005

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $60,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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.

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