Business Loan from Baylake Bank Given to Furniture Stores Company
Baylake Bank has a track record as a leading provider of SBA loans. Find out how this Wisconsin entrepreneur received an SBA loan from them.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Baileys Harbor, Wisconsin was able to borrow $150,000 from Baylake Bank. The SBA made the loan possible by guaranteeing $127,500 of this Wisconsin small business loan.
SBA Loan Borrower
COMPANY TYPE: FURNITURE STORES
BAILEYS HARBOR, WI 54202
SBA Loan Lender
BAYLAKE BANK
217 N 4TH AVE
STURGEON BAY, WI 54235
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA business loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
5712 - Furniture Stores
NAICS Code
442110 - Furniture Stores
Loan Approval Date
3/1/2001
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $127,500.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. This SBA loan request did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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:
Strategic Investors
Where to Get an SBA Loan in Sturgeon Bay, Wisconsin
Getting a Business Loan in Wisconsin