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November 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Green Bay, Business Loans > Associated Bank Green Bay Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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SBA Lenders in Middleton
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Middleton, Wisconsin Business Gets SBA-Guaranteed Funding from Associated BankAn SBA loan from Associated Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Middleton, Wisconsin business owner got a $56,100 loan. This growing company knew how to go about getting a business bank loan. Based in Middleton, Wisconsin, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Associated Bank, based in Green Bay, Wisconsin. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender ASSOCIATED BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 1/12/2007 Loan Approval Gross Amount $56,100 Loan Approval from the SBA Of the total $56,100 loan amount, the SBA guaranteed $28,050. 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 only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA 7A Lenders in Green Bay, Wisconsin
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