Wisconsin Bank Loan Issued to Eating Places Company

Would a Wisconsin business loan help your company expand? If so, you may want to talk with this Wisconsin bank, which offers SBA loans to Wisconsin entrepreneurs.

This business, based in Marshfield, 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 Community Bank - Cent. Wisconsin. We've got the inside scoop on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MARSHFIELD, WI 54449

SBA Loan Lender

COMMUNITY BANK - CENT. WISCONSIN
103 W MCMILLAN ST, STE 1
MARSHFIELD, WI 54449

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/9/2001

Loan Approval Gross Amount

$47,122

Loan Approval from the SBA

Of the total $47,122 loan amount, the SBA guaranteed $40,053.

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 10 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Community Bank - Cent. Wisconsin and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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