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November 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Wausau, Business Loans > Peoples State Bank Wausau Business Loans > Drinking Places Loan | ||||
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Getting a Commercial Loan from Peoples State Bank
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Peoples State Bank SBA Loan to Drinking Places CompanyAn SBA loan from Peoples State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Wausau, Wisconsin business owner got a $203,000 loan. Getting a small business loan in Wausau, Wisconsin was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Peoples State Bank, operating out of Wausau, Wisconsin. Here are the details on this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender PEOPLES STATE BANK This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722410 - Drinking Places Loan Approval Date 7/17/2007 Loan Approval Gross Amount $203,000 Loan Approval from the SBA Of the total $203,000 loan amount, the SBA guaranteed $101,500. 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 14 employees. The loan application indicated that the loan would help retain 14 existing jobs. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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. Related Links: SBA Banks in Wausau, Wisconsin
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