Business Loan from Security State Bank Given to Local Trucking Without Storage Company

An SBA loan from Security State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Saxon, Wisconsin business owner got a $144,000 loan.

Getting a small business loan in Saxon, Wisconsin was an essential business goal for this company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Security State Bank, operating out of Iron River, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: LOCAL TRUCKING WITHOUT STORAGE
SAXON, WI 54559

SBA Loan Lender

SECURITY STATE BANK
7865 US HWY 2
IRON RIVER, WI 54847

This was a Low Documentation SBA loan. The SBA started this program to limit 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4212 - Local Trucking Without Storage

NAICS Code

484220 - Specialized Local Freight Trucking

Loan Approval Date

5/14/2001

Loan Approval Gross Amount

$144,000

Loan Approval from the SBA

Of the total $144,000 loan amount, the SBA guaranteed $122,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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