Business Loan from Loans From Old Closed Lenders Given to Liquor Stores Company

An SBA loan from Loans From Old Closed Lenders typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Milwaukee, Wisconsin business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milwaukee, Wisconsin was able to borrow $150,000 from Loans From Old Closed Lenders. The SBA made the loan possible by guaranteeing $127,500 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: LIQUOR STORES
MILWAUKEE, WI 53201

SBA Loan Lender

LOANS FROM OLD CLOSED LENDERS
409 3RD STREET S.W., SUITE 83
WASHINGTON, DC 20416

This was a Low Documentation SBA loan. The SBA started this program to reduce 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

5921 - Liquor Stores

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

4/20/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 10 employees. The SBA loan documents did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Loans From Old Closed Lenders and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Advice on Getting a Small Business Loan

SBA Participating Banks in Washington, District of Columbia

SBA Participating Banks in District of Columbia