New London, Wisconsin Lender Lends Money to Furniture Stores Company

A New London, Wisconsin SBA loan can be yours. Learn how a business got a $160,149 business loan from this Wisconsin bank.

This loan to an entrepreneur is a good example of an SBA loan. The First State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Wisconsin entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
MANAWA, WI 54949

SBA Loan Lender

THE FIRST STATE BANK
113 W NORTH WATER ST
NEW LONDON, WI 54961

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 commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

722410 - Drinking Places

Loan Approval Date

2/14/2005

Loan Approval Gross Amount

$160,149

Loan Approval from the SBA

Of the total $160,149 loan amount, the SBA guaranteed $120,112.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Loan

SBA Participating Banks in New London, Wisconsin

Wisconsin SBA 7A Lenders