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April 28, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Milwaukee, Business Loans > M&i Marshall & Ilsley Bank Milwaukee Business Loans > Commercial Laundry And Drycleaning Equipment Loan | ||||
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Good Banks for Milwaukee Small Businesses
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Commercial Loans for Commercial Laundry, Drycleaning, and Pressing Machine ManufacturingWith these commercial loans for commercial laundry, drycleaning, and pressing machine manufacturing, the SBA guarantees the lender that the loan will be repaid. This commercial laundry, drycleaning, and pressing machine manufacturing loan for $120,000 was given to a Wisconsin entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milwaukee, Wisconsin was able to borrow $120,000 from M&i Marshall & Ilsley Bank. The SBA made the loan possible by guaranteeing $102,000 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: COMMERCIAL LAUNDRY AND DRYCLEANING EQUIPMENT SBA Loan Lender M&I MARSHALL & ILSLEY BANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3582 - Commercial Laundry and Drycleaning Equipment NAICS Code 333312 - Commercial Laundry, Drycleaning, and Pressing Machine Manufacturing Loan Approval Date 4/25/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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: Realistic Debt Financing Options Best Milwaukee, Wisconsin Banks for Small Business Getting an SBA Loan in Wisconsin
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