Growing Company Gets a Wisconsin Business Loan

Bank loans in Wisconsin are hard to find these days. We take a look at one Wisconsin bank loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Monroe, Wisconsin was a top priority for this loan applicant back in 2003 and, based on their loan application, they were successful in getting an SBA loan from First Banking Center. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
MONROE, WI 53566

SBA Loan Lender

FIRST BANKING CENTER
101 7TH ST
MONROE, WI 53566

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

442110 - Furniture Stores

Loan Approval Date

9/24/2003

Loan Approval Gross Amount

$117,000

Loan Approval from the SBA

Of the total $117,000 loan amount, the SBA guaranteed $87,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 13 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Banking Center had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Banking Center made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Borrowing Money from Friends and Family

SBA 7A Lenders in Monroe, Wisconsin

Wisconsin SBA 7A Banks