SBA Loan from 1st National Bank - Bangor Helps Store Retailers Company

An SBA loan from 1st National Bank - Bangor typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, an Onalaska, Wisconsin business owner got a $150,000 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Onalaska, Wisconsin was able to borrow $150,000 from 1st National Bank - Bangor. The SBA made the loan possible by guaranteeing $127,500 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: STORE RETAILERS
ONALASKA, WI 54650

SBA Loan Lender

1ST NATIONAL BANK - BANGOR
1798 COMMERCIAL ST
BANGOR, WI 54614

This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453998 - Store Retailers

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 13 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like 1st National Bank - Bangor that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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