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November 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Mineral Point, Business Loans > Farmers Savings Bank Mineral Point Business Loans > Hotels And Motels Loan | ||||
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Wisconsin Bank SBA Loans
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Farmers Savings Bank SBA Loan to Hotels And Motels CompanyWant a Wisconsin SBA loan? Here's one Wisconsin business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mineral Point, Wisconsin was able to borrow $35,000 from Farmers Savings Bank. The SBA made the loan possible by guaranteeing $28,000 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender FARMERS SAVINGS BANK This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 3/29/2000 Loan Approval Gross Amount $35,000 Loan Approval from the SBA Of the total $35,000 loan amount, the SBA guaranteed $28,000. More Information on This SBA Loan The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Farmers Savings Bank and they will explain how you can get an SBA loan for your company. 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: How Much Venture Capital Is There? SBA 7A Lenders in Mineral Point, Wisconsin
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