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November 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Merrill, Business Loans > M&i Marshall & Ilsley Bank Merrill Business Loans > Automotive Repair Shops Loan | ||||
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Merrill, Wisconsin Bank Loan
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Small Business Loans for Automotive Mechanical and Electrical Repair and MaintenanceLooking for small business loans for automotive mechanical and electrical repair and maintenance? Try the SBA. This $115,400 automotive mechanical and electrical repair and maintenance loan was issued by a Wisconsin bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Merrill, Wisconsin was able to borrow $115,400 from M&i Marshall & Ilsley Bank. The SBA made the loan possible by guaranteeing $98,090 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE REPAIR SHOPS SBA Loan Lender M&I MARSHALL & ILSLEY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7539 - Automotive Repair Shops NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 9/4/2001 Loan Approval Gross Amount $115,400 Loan Approval from the SBA Of the total $115,400 loan amount, the SBA guaranteed $98,090. 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 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. This SBA loan was for $115,400. How would you spend $115,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Obtaining Funding From a Venture Capitalist SBA Participating Banks in Merrill, Wisconsin
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