Getting an SBA Loan for Drinking Places

With these business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $403,000 was given to a Wisconsin entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Sullivan, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was First Bank Financial Centre, based in Oconomowoc, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
SULLIVAN, WI 53178

SBA Loan Lender

FIRST BANK FINANCIAL CENTRE
155 W WISCONSIN AVE
OCONOMOWOC, WI 53066

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

722410 - Drinking Places

Loan Approval Date

1/13/2006

Loan Approval Gross Amount

$403,000

Loan Approval from the SBA

Of the total $403,000 loan amount, the SBA guaranteed $302,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 $403,000 loan. Remember, feel the fear, and do it anyway.

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:

Financing Your Business

Best Banks in Oconomowoc, Wisconsin

Wisconsin SBA Banks