Business Loan from Community First Bank Given to Gift, Novelty, And Souvenir Shops Company

An SBA loan from Community First Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Park Ridge, Wisconsin business owner got a $37,500 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Community First Bank, out of Stevens Point, Wisconsin. The loan was granted and they received $37,500 to help grow their Park Ridge, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: GIFT, NOVELTY, AND SOUVENIR SHOPS
PARK RIDGE, WI 54481

SBA Loan Lender

COMMUNITY FIRST BANK
3273 CHURCH ST
STEVENS POINT, WI 54481

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5947 - Gift, Novelty, and Souvenir Shops

NAICS Code

453220 - Gift, Novelty, and Souvenir Stores

Loan Approval Date

8/6/2002

Loan Approval Gross Amount

$37,500

Loan Approval from the SBA

Of the total $37,500 loan amount, the SBA guaranteed $31,875.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

How Equity Dilution Works

Best Banks for Small Business in Stevens Point, Wisconsin

Wisconsin SBA 7A Banks