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May 18, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Wausau, Business Loans > Abbybank Wausau Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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Wausau Bank Loan
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Wausau, Wisconsin Bank Lends Money to Sporting Goods Stores And Bicycle Shops Company in Wausau, WisconsinGet to know Wausau, Wisconsin banks that specialize in business loans and know how to work with entrepreneurs. Abbybank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Wausau, Wisconsin starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from Abbybank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender ABBYBANK This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with appliying for an SBA loan . 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. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5941 - Sporting Goods Stores and Bicycle Shops NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 8/1/2001 Loan Approval Gross Amount $82,500 Loan Approval from the SBA Of the total $82,500 loan amount, the SBA guaranteed $70,125. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 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 The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Raising VC Money for Social Networking Companies Small Business Banks in Wausau, Wisconsin Find an SBA Lender in Wisconsin
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