River Valley Bank Gives SBA Loan to Furniture Stores Company

SBA loans in Wisconsin are are few and far betweeen these days. We take a look at one Wisconsin SBA loan, provided by a Wisconsin bank, that was approved by the SBA.

Getting a small business loan in Tomahawk, Wisconsin was a top priority for this particular business back in 2004 and, based on their loan application, they were successful in getting an SBA loan from River Valley Bank. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
TOMAHAWK, WI 54487

SBA Loan Lender

RIVER VALLEY BANK
3210 E MAIN ST
MERRILL, WI 54452

This lender issued this loan for a small business under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5712 - Furniture Stores

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/6/2004

Loan Approval Gross Amount

$315,500

Loan Approval from the SBA

Of the total $315,500 loan amount, the SBA guaranteed $236,625.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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 River Valley 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.

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