Peshtigo, Wisconsin Entrepreneur Gets an SBA Loan

WisconsinSmall business loans are available to Wisconsin small business owners through the SBA. In this case, a Wisconsin bank provides the loan.

This company, based in Peshtigo, Wisconsin, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Stephenson National Bank & Tr. We've got the inside scoop on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: PRIMARY SMELTING AND REFINING OF COPPER
PESHTIGO, WI 54154

SBA Loan Lender

STEPHENSON NATIONAL BANK & TR
1820 HALL AVE
MARINETTE, WI 54143

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3331 - Primary Smelting and Refining of Copper

NAICS Code

331423 - Secondary Smelting, Refining, and Alloying of Copper

Loan Approval Date

4/11/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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