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May 4, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Whitewater, Business Loans > First Citizens State Bank Whitewater Business Loans > Radio And Television Communications Equipment Loan | ||||
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Banks in Whitewater, Wisconsin That Make SBA Loans
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Whitewater, Wisconsin Lender Lends Money to Radio And Television Communications Equipment CompanyWant to talk with a Whitewater, Wisconsin bank about a business loan? Here's one Wisconsin business loan, issued by a Whitewater bank, that was approved by the SBA. Applying for an SBA loan with First Citizens State Bank worked out well for our friends at one local business in Milwaukee, Wisconsin. They got an SBA loan for $33,000. Nice! SBA Loan Borrower COMPANY TYPE: RADIO AND TELEVISION COMMUNICATIONS EQUIPMENT SBA Loan Lender FIRST CITIZENS STATE BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3663 - Radio and Television Communications Equipment NAICS Code 334220 - Radio and Television Broadcasting and Wireless Communications Equipment Loan Approval Date 2/28/2000 Loan Approval Gross Amount $33,000 Loan Approval from the SBA Of the total $33,000 loan amount, the SBA guaranteed $26,400. 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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business 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: A Company That Helps Entrepreneurs Where to Get an SBA Loan in Whitewater, Wisconsin
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