SBA Loan from Associated Bank Helps Manufacturing Industries Company

Associated Bank has a track record as a leading provider of SBA loans. Find out how this Wisconsin entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Wisconsin Rapids, Wisconsin, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Associated Bank, based in Green Bay, Wisconsin.

SBA Loan Borrower

COMPANY TYPE: MANUFACTURING INDUSTRIES
WISCONSIN RAPIDS, WI 54495

SBA Loan Lender

ASSOCIATED BANK
200 N ADAMS ST
GREEN BAY, WI 54301

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3999 - Manufacturing Industries

NAICS Code

623210 - Residential Mental Retardation Facilities

Loan Approval Date

11/25/2005

Loan Approval Gross Amount

$159,070

Loan Approval from the SBA

Of the total $159,070 loan amount, the SBA guaranteed $119,303.

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 8 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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:

Find Start-Up Capital

Best Green Bay, Wisconsin Banks for Small Business

SBA Wisconsin Lenders