Entrepreneur Works With New Richmond, Wisconsin Bank to Get an SBA Loan

Want to talk with a New Richmond, Wisconsin bank about a small business loan? Here's one Wisconsin business loan, issued by a New Richmond 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 Osceola, Wisconsin. They received an SBA loan for $1,000,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL PRINTING
OSCEOLA, WI 54020

SBA Loan Lender

ANCHORBANK, FSB
355 S KNOWLES AVE
NEW RICHMOND, WI 54017

This lender issued this SBA business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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.

SIC Code

2759 - Commercial Printing

NAICS Code

323110 - Commercial Lithographic Printing

Loan Approval Date

2/18/2005

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $350,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

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:

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Who Lends Money to Small Businesses in New Richmond, Wisconsin

Getting an SBA Loan in Wisconsin