Financing for Homes for the Elderly

Looking for commercial loans for homes for the elderly? Try the SBA. This $975,000 homes for the elderly loan was issued by a Wisconsin bank.

Getting a small business loan in Westfield, Wisconsin was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Green Lake State Bank, operating out of Green Lake, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: HOMES FOR THE ELDERLY
WESTFIELD, WI 53964

SBA Loan Lender

GREEN LAKE STATE BANK
515 HILL ST
GREEN LAKE, WI 54941

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

623312 - Homes for the Elderly

Loan Approval Date

3/21/2006

Loan Approval Gross Amount

$975,000

Loan Approval from the SBA

Of the total $975,000 loan amount, the SBA guaranteed $731,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had no employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Green Lake State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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