SBA Loan from Tri City National Bank Helps Food Stores Company

Tri City National Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Wisconsin entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Tri City National Bank, out of Brookfield, Wisconsin. The loan was granted and they received $70,000 to help grow their Milwaukee, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: FOOD STORES
MILWAUKEE, WI 53204

SBA Loan Lender

TRI CITY NATIONAL BANK
12745 W CAPITOL DR
BROOKFIELD, WI 53005

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

5499 - Food Stores

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company planned to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a company in Milwaukee WI, you ought to talk with a local Milwaukee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Milwaukee businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Tri City National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Tri City National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Brookfield, Wisconsin

Wisconsin SBA 7A Banks