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May 21, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Waterloo, Business Loans > Farmers & Merchants State Bank Waterloo Business Loans > Lessors Of Nonresidential Buildings Loan | ||||
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Business Loans for Marshall Small Businesses
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Where to Get Capital for Lessors of Nonresidential BuildingsWith these small business loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $77,500 was given to a Wisconsin entrepreneur in 2006. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Marshall, Wisconsin was able to borrow $77,500 from Farmers & Merchants State Bank. The SBA made the loan possible by guaranteeing $38,750 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS SBA Loan Lender FARMERS & MERCHANTS STATE BANK The lender provided this SBA loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 531120 - Lessors of Nonresidential Buildings Loan Approval Date 10/17/2006 Loan Approval Gross Amount $77,500 Loan Approval from the SBA Of the total $77,500 loan amount, the SBA guaranteed $38,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 no employees. This SBA loan request did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers & Merchants State Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers & Merchants State Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 7A Banks in Waterloo, Wisconsin Find an SBA Lender in Wisconsin
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