Raising Money for Nonresidential Property Managers

With these business loans for nonresidential property managers, the SBA guarantees the lender that the loan will be repaid. This nonresidential property managers loan for $72,000 was given to a Wisconsin entrepreneur in 2002.

Getting a small business loan in Winneconne, Wisconsin was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citizensfirst Cu, operating out of Oshkosh, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: REAL ESTATE AGENTS AND MANAGERS
WINNECONNE, WI 54986

SBA Loan Lender

CITIZENSFIRST CU
250 N SAWYER ST
OSHKOSH, WI 54902

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

6531 - Real Estate Agents and Managers

NAICS Code

531312 - Nonresidential Property Managers

Loan Approval Date

11/14/2002

Loan Approval Gross Amount

$72,000

Loan Approval from the SBA

Of the total $72,000 loan amount, the SBA guaranteed $61,200.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Citizensfirst Cu and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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