M&i Marshall & Ilsley Bank SBA Loan to Full-Service Restaurants Company

An SBA loan from M&i Marshall & Ilsley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Manitowoc, Wisconsin business owner got a $144,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with M&i Marshall & Ilsley Bank, out of Milwaukee, Wisconsin. The loan was granted and they received $144,000 to help grow their Manitowoc, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MANITOWOC, WI 54220

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
770 N WATER ST
MILWAUKEE, WI 53202

This lender issued this SBA loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/30/2004

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 12 existing jobs.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great way to raise money

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:

Business Cash Advances

SBA Banks in Milwaukee, Wisconsin

Wisconsin SBA Bank Lenders