Wausau, Wisconsin Bank Gives SBA Loan to Full-Service Restaurants Company

Find Wausau, Wisconsin banks that specialize in SBA loans and know how to work with entrepreneurs. River Valley Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Phelps, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from River Valley Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
PHELPS, WI 54554

SBA Loan Lender

RIVER VALLEY BANK
327 N 17TH AVE
WAUSAU, WI 54401

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/19/2005

Loan Approval Gross Amount

$304,000

Loan Approval from the SBA

Of the total $304,000 loan amount, the SBA guaranteed $152,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 2 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.

This SBA loan was for $304,000. How would you spend $304,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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