Entrepreneur Works With Madison, Wisconsin Bank to Get an SBA Loan

Thinking about meeting with a Madison, Wisconsin bank about a small business loan? Here's one Wisconsin business loan, issued by a Madison bank, that was approved by the SBA.

Applying for an SBA loan with Anchorbank, Fsb worked out well for our friends at one local firm in New Richmond, Wisconsin. They received an SBA loan for $76,800. Great job!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NEW RICHMOND, WI 54017

SBA Loan Lender

ANCHORBANK, FSB
25 W MAIN ST
MADISON, WI 53703

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/9/2005

Loan Approval Gross Amount

$76,800

Loan Approval from the SBA

Of the total $76,800 loan amount, the SBA guaranteed $65,280.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We can help you find the best banks for small businesses in New Richmond or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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