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November 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Manitowoc, Business Loans > Investors Community Bank Manitowoc Business Loans > Computer Related Services Loan | ||||
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Manitowoc, Wisconsin Bank for SBA Loans
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Where to Get Capital for Wired Telecommunications CarriersLooking for SBA loans for wired telecommunications carriers? Talk to a banker who works with the SBA. This $75,076 wired telecommunications carriers loan was issued by a Wisconsin bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Manitowoc, Wisconsin was able to borrow $75,076 from Investors Community Bank. The SBA made the loan possible by guaranteeing $63,815 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: COMPUTER RELATED SERVICES SBA Loan Lender INVESTORS COMMUNITY BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7379 - Computer Related Services NAICS Code 513310 - Wired Telecommunications Carriers Loan Approval Date 4/13/2004 Loan Approval Gross Amount $75,076 Loan Approval from the SBA Of the total $75,076 loan amount, the SBA guaranteed $63,815. 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 7 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, 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. 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: Who Lends Money to Small Businesses in Manitowoc, Wisconsin
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