Borrowing Money for General Purpose Machinery Manufacturing

With these loans for general purpose machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This general purpose machinery manufacturing loan for $474,000 was given to a Wisconsin entrepreneur in 2002.

Getting a small business loan in Viroqua, Wisconsin was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from State Bank Of Viroqua, operating out of Viroqua, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: SPECIAL INDUSTRY MACHINERY
VIROQUA, WI 54665

SBA Loan Lender

STATE BANK OF VIROQUA
101 N MAIN ST
VIROQUA, WI 54665

This SBA small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3559 - Special Industry Machinery

NAICS Code

333999 - General Purpose Machinery Manufacturing

Loan Approval Date

7/26/2002

Loan Approval Gross Amount

$474,000

Loan Approval from the SBA

Of the total $474,000 loan amount, the SBA guaranteed $355,500.

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 21 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. State Bank Of Viroqua had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, State Bank Of Viroqua 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.

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