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November 27, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Milwaukee, Business Loans > M&i Marshall & Ilsley Bank Milwaukee Business Loans > General Automotive Repair Shops Loan | ||||
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I Need an SBA 7A Loan in Milwaukee, Wisconsin
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How to Get a Loan for General Automotive RepairLooking for business loans for general automotive repair? The SBA may be the answer. This $40,000 general automotive repair loan was issued by a Wisconsin bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milwaukee, Wisconsin was able to borrow $40,000 from M&i Marshall & Ilsley Bank. The SBA made the loan possible by guaranteeing $32,000 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL AUTOMOTIVE REPAIR SHOPS SBA Loan Lender M&I MARSHALL & ILSLEY BANK 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 7538 - General Automotive Repair Shops NAICS Code 811111 - General Automotive Repair Loan Approval Date 4/19/2000 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $32,000. 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 4 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like M&i Marshall & Ilsley Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: SBA Participating Banks in Milwaukee, Wisconsin
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