Oshkosh, Wisconsin Entrepreneur Gets a Business Loan

Bank loans in Wisconsin are tough to come by these days. We take a look at one Wisconsin bank loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Oshkosh, Wisconsin was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from West Pointe Bank. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: STATIONERY AND OFFICE SUPPLIES
OSHKOSH, WI 54901

SBA Loan Lender

WEST POINTE BANK
1750 WITZEL AVE
OSHKOSH, WI 54901

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring 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

5112 - Stationery and Office Supplies

NAICS Code

422120 - Stationery and Office Supplies Wholesalers

Loan Approval Date

6/7/2001

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. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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:

Borrowing Money from Friends and Family

SBA Participating Banks in Oshkosh, Wisconsin

Getting an SBA Loan in Wisconsin