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May 1, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Milwaukee, Business Loans > M&i Marshall & Ilsley Bank Milwaukee Business Loans > Apparel Accessories And Other Apparel Manufacturing Loan | ||||
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SBA Lenders Wisconsin
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Milwaukee, Wisconsin Bank Gives SBA Loan to Apparel Accessories And Other Apparel Manufacturing CompanyWant to talk with a Milwaukee, Wisconsin bank about a business loan? Here's one Minnesota business loan, issued by a Milwaukee bank, that was approved by the SBA. Applying for an SBA loan with M&i Marshall & Ilsley Bank worked out well for our friends at one local business in Minneapolis, Minnesota. They got an SBA loan for $125,000. Sweet! SBA Loan Borrower COMPANY TYPE: APPAREL ACCESSORIES AND OTHER APPAREL MANUFACTURING SBA Loan Lender M&I MARSHALL & ILSLEY BANK This lender issued this loan under the SBA's 7A loan, 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 315999 - Apparel Accessories and Other Apparel Manufacturing Loan Approval Date 9/3/2006 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $93,750. 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. This SBA loan request indicated that the loan would help generate 1 new job and retain 14 existing jobs. Getting an SBA Loan For Your Business The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Find an SBA Lender in Milwaukee, Wisconsin
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