Borrowing Money for Professional, Scientific, and Technical Services

With these bank loans for professional, scientific, and technical services, the SBA guarantees the lender that the loan will be repaid. This professional, scientific, and technical services loan for $699,000 was given to a Wisconsin entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Milwaukee, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Cornerstone Community Bank, based in Grafton, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL, SCIENTIFIC, AND TECHNICAL SERVICES
MILWAUKEE, WI 53223

SBA Loan Lender

CORNERSTONE COMMUNITY BANK
2090 WISCONSIN AVE
GRAFTON, WI 53024

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541990 - Professional, Scientific, and Technical Services

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$699,000

Loan Approval from the SBA

Of the total $699,000 loan amount, the SBA guaranteed $524,250.

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 20 employees. This SBA loan request indicated that the loan would help retain 20 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 Cornerstone Community Bank 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.

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