Entrepreneur Works With Appleton, Wisconsin Bank to Get an SBA Loan
Want to talk with an Appleton, Wisconsin bank about a small business loan? Here's one Wisconsin business loan, issued by an Appleton bank, that was approved by the SBA.
Applying for an SBA loan with Community First Cu worked out well for our friends at one local company in Menasha, Wisconsin. They received an SBA loan for $120,000. Nice!
SBA Loan Borrower
COMPANY TYPE: BEAUTY SHOPS
MENASHA, WI 54952
SBA Loan Lender
COMMUNITY FIRST CU
2626 S ONEIDA ST
APPLETON, WI 54915
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
7231 - Beauty Shops
NAICS Code
812112 - Beauty Salons
Loan Approval Date
9/5/2006
Loan Approval Gross Amount
$120,000
Loan Approval from the SBA
Of the total $120,000 loan amount, the SBA guaranteed $102,000.
More Information on This SBA Loan
The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 7 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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:
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Where to Get an SBA Loan in Appleton, Wisconsin
Where to Get an SBA Loan Wisconsin