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May 15, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Eau Claire, Business Loans > Peoples Bank Of Wisconsin Eau Claire Business Loans > Hobby, Toy, And Game Shops Loan | ||||
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Eau Claire SBA Lenders
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Eau Claire, Wisconsin Bank Gives SBA Loan to Hobby, Toy, And Game Shops CompanyAn Eau Claire, Wisconsin small business loan can be yours. Learn how a business got a $150,000 business loan from this Wisconsin bank. This loan to a local firm is a good example of an SBA loan. Peoples Bank Of Wisconsin made the loan and the SBA guaranteed a portion of the loan. Many other Wisconsin entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME SHOPS SBA Loan Lender PEOPLES BANK OF WISCONSIN 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 5945 - Hobby, Toy, and Game Shops NAICS Code 451120 - Hobby, Toy, and Game Stores Loan Approval Date 2/8/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 14 employees. The SBA loan documents did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need business start up money in Bloomer WI, you ought to talk with a local Bloomer SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Bloomer businesses. 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: Small Business Banks in Eau Claire, Wisconsin
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