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May 18, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Cedarburg, Business Loans > Ozaukee Bank Cedarburg Business Loans > Poured Concrete Foundation And Structure Contractors Loan | ||||
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SBA Loan from Ozaukee Bank
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SBA Loan from Ozaukee Bank Helps Poured Concrete Foundation And Structure Contractors CompanyOzaukee Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wisconsin entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Ozaukee Bank, out of Cedarburg, Wisconsin. The loan was granted and they received $97,124 to help grow their Cedarburg, Wisconsin business. SBA Loan Borrower COMPANY TYPE: POURED CONCRETE FOUNDATION AND STRUCTURE CONTRACTORS SBA Loan Lender OZAUKEE BANK This lender issued this SBA bank loan under the SBA 7A lending 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. NAICS Code 238110 - Poured Concrete Foundation and Structure Contractors Loan Approval Date 4/26/2007 Loan Approval Gross Amount $97,124 Loan Approval from the SBA Of the total $97,124 loan amount, the SBA guaranteed $82,555. 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 2 employees. The SBA loan application for the borrower indicated that the funding would help create 2 new jobs. Great, But How Can I Get an SBA Loan for My Business? SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: SBA Approved Banks in Cedarburg, Wisconsin
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