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November 21, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Madison, Business Loans > Wisconsin Community Bank Madison Business Loans > Jewelry Stores Loan | ||||
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Madison Bank Loan
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Madison, Wisconsin Lender Lends Money to Jewelry Stores CompanyA Madison, Wisconsin SBA loan can be yours. Learn how a company got a $515,000 business loan from this Wisconsin bank. This loan to a local firm is a good example of an SBA loan. Wisconsin Community Bank made the loan and the SBA guaranteed a portion of the loan. Many other Wisconsin entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: JEWELRY STORES SBA Loan Lender WISCONSIN COMMUNITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 448310 - Jewelry Stores Loan Approval Date 10/12/2006 Loan Approval Gross Amount $515,000 Loan Approval from the SBA Of the total $515,000 loan amount, the SBA guaranteed $386,250. More Information on This SBA Loan The borrower borrowed this money for an existing 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 9 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 9 existing jobs. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wisconsin Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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. Related Links: Banking Deregulation's Effects on Entrepreneurship SBA Banks in Madison, Wisconsin
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