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December 20, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Oconomowoc, Business Loans > First Bank Financial Centre Oconomowoc Business Loans > General Contracting For Nonresidential Buildings Loan | ||||
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Banks for Oconomowoc Small Business Owners
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Company Gets a Wisconsin SBA LoanWisconsinSBA loans are available to Wisconsin entrepreneurs through the SBA. In this case, a Wisconsin bank provides the loan. Getting a small business loan in Oconomowoc, Wisconsin was a top priority for this particular business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Bank Financial Centre. Here are the details on this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: GENERAL CONTRACTING FOR NONRESIDENTIAL BUILDINGS SBA Loan Lender FIRST BANK FINANCIAL CENTRE This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1542 - General Contracting for Nonresidential Buildings NAICS Code 233320 - Commercial and Institutional Building Construction Loan Approval Date 8/11/2000 Loan Approval Gross Amount $140,000 Loan Approval from the SBA Of the total $140,000 loan amount, the SBA guaranteed $105,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 40 employees. This SBA loan request did not indicate that the company promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Participating Banks in Oconomowoc, Wisconsin
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