SBA Loan from Peoples State Bank Helps Broadwoven Fabric Mills, Manmade Fiber And Silk Company

An SBA loan from Peoples State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Schofield, Wisconsin business owner got a $150,000 loan.

Getting a small business loan in Schofield, Wisconsin was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Peoples State Bank, operating out of Wausau, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: BROADWOVEN FABRIC MILLS, MANMADE FIBER AND SILK
SCHOFIELD, WI 54476

SBA Loan Lender

PEOPLES STATE BANK
1905 STEWART AVE
WAUSAU, WI 54401

This was a Low Documentation SBA loan. The SBA launched 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

2221 - Broadwoven Fabric Mills, Manmade Fiber and Silk

NAICS Code

313210 - Broadwoven Fabric Mills

Loan Approval Date

6/21/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, where there is a will, there is a way!

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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