Entrepreneur Works With Sheboygan, Wisconsin Bank to Get an SBA Loan

A Sheboygan, Wisconsin SBA loan can be yours. Learn how a business got a $570,000 business loan from this Wisconsin bank.

This loan to an entrepreneur is a good example of an SBA loan. Community Bank & Trust 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: SPECIAL DIES AND TOOLS, DIE SETS, JIGS AND FIXTURE
WAUKESHA, WI 53186

SBA Loan Lender

COMMUNITY BANK & TRUST
604 N EIGHTH ST
SHEBOYGAN, WI 53081

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3544 - Special Dies and Tools, Die Sets, Jigs and Fixture

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

5/20/2004

Loan Approval Gross Amount

$570,000

Loan Approval from the SBA

Of the total $570,000 loan amount, the SBA guaranteed $427,500.

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 42 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank & Trust had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank & Trust made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Who Lends Money to Small Businesses in Sheboygan, Wisconsin

Where to Get an SBA Loan Wisconsin