The First State Bank Gives Business Loan to Gasoline Service Stations Company

SBA loans in Wisconsin are are few and far betweeen these days. We take a look at one Wisconsin SBA loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in New London, Wisconsin was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from The First State Bank. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
NEW LONDON, WI 54961

SBA Loan Lender

THE FIRST STATE BANK
113 W NORTH WATER ST
NEW LONDON, WI 54961

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/1/2006

Loan Approval Gross Amount

$65,000

Loan Approval from the SBA

Of the total $65,000 loan amount, the SBA guaranteed $48,750.

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 4 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. The First State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, The First State Bank 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:

Microlending as a Small Business Funding Source

Find an SBA Lender in New London, Wisconsin

SBA Wisconsin Lenders