Business Loan from Community Bank Group Given to Gasoline Service Stations Company

An SBA loan from Community Bank Group typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Westby, Wisconsin business owner got a $150,000 loan.

Getting a small business loan in Westby, Wisconsin was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Community Bank Group, operating out of Westby, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: GASOLINE SERVICE STATIONS
WESTBY, WI 54667

SBA Loan Lender

COMMUNITY BANK GROUP
100 N MAIN ST
WESTBY, WI 54667

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5541 - Gasoline Service Stations

Loan Approval Date

9/29/2000

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 5 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Community Bank Group had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Community Bank Group 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:

Understanding Dilution

SBA Banks in Westby, Wisconsin

Wisconsin SBA Bank Lenders