First Business Bank SBA Loan to Offices And Clinics Of Chiropractors Company
First Business Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Wisconsin entrepreneur was able to get a loan to take a small business to the next level.
This growing company knew how to go about getting a business bank loan. Based in Cottage Grove, Wisconsin, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was First Business Bank, based in Madison, Wisconsin.
SBA Loan Borrower
COMPANY TYPE: OFFICES AND CLINICS OF CHIROPRACTORS
COTTAGE GROVE, WI 53527
SBA Loan Lender
FIRST BUSINESS BANK
401 CHARMANY DR
MADISON, WI 53719
This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
8041 - Offices and Clinics of Chiropractors
NAICS Code
621310 - Chiropractors
Loan Approval Date
12/6/2001
Loan Approval Gross Amount
$19,170
Loan Approval from the SBA
Of the total $19,170 loan amount, the SBA guaranteed $16,294.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to add 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.
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