Raising Money for Janitorial Services

With these business loans for janitorial services, the SBA guarantees the lender that the loan will be repaid. This janitorial services loan for $36,500 was given to a Wisconsin entrepreneur in 2005.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Waukesha, Wisconsin was able to borrow $36,500 from First Bank Financial Centre. The SBA made the loan possible by guaranteeing $31,025 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: JANITORIAL SERVICES
WAUKESHA, WI 53186

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

561720 - Janitorial Services

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$36,500

Loan Approval from the SBA

Of the total $36,500 loan amount, the SBA guaranteed $31,025.

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 2 employees. This SBA loan request indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Banks in Oconomowoc, Wisconsin

SBA Participating Banks in Wisconsin