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November 21, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Milwaukee, Business Loans > Community Bank Group Milwaukee Business Loans > Grocery Stores Loan | ||||
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Wisconsin SBA 7A Lenders
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Milwaukee, Wisconsin Bank Lends Money to Grocery Stores Company in Milwaukee, WisconsinThinking about meeting with a Milwaukee, Wisconsin bank about an SBA loan? Here's one Wisconsin business loan, issued by a Milwaukee bank, that was approved by the SBA. Applying for an SBA loan with Community Bank Group worked out well for our friends at one local company in Milwaukee, Wisconsin. The business was able to get an SBA loan for $115,000. Great job! SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender COMMUNITY BANK GROUP This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program involves 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 5411 - Grocery Stores NAICS Code 445120 - Convenience Stores Loan Approval Date 10/9/2002 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. 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 8 employees. The SBA loan documents did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Banking Deregulation's Effects on Entrepreneurship SBA Approved Banks in Milwaukee, Wisconsin
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