Entrepreneur Works With Racine, Wisconsin Bank to Get an SBA Loan

Find Racine, Wisconsin banks that specialize in business loans and know how to work with entrepreneurs. M&i Marshall & Ilsley Bank is one such bank, as evidenced by this SBA loan to one business.

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

SBA Loan Borrower

COMPANY TYPE: AMUSEMENT AND RECREATION SERVICES
RACINE, WI 53406

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
1 N MAIN ST
RACINE, WI 53403

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7999 - Amusement and Recreation Services

NAICS Code

611620 - Sports and Recreation Instruction

Loan Approval Date

3/30/2001

Loan Approval Gross Amount

$42,000

Loan Approval from the SBA

Of the total $42,000 loan amount, the SBA guaranteed $35,700.

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 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

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.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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