Borrowing Money for Lawyers

With these loans for lawyers, the SBA guarantees the lender that the loan will be repaid. This lawyers loan for $276,200 was given to a Wisconsin entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Eau Claire, Wisconsin was able to borrow $276,200 from M&i Bank Fsb. The SBA made the loan possible by guaranteeing $207,150 of this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: LEGAL SERVICES
EAU CLAIRE, WI 54703

SBA Loan Lender

M&I BANK FSB
11548 W THEODORE TRECKER WAY
WEST ALLIS, WI 53214

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This 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

8111 - Legal Services

NAICS Code

541110 - Lawyers

Loan Approval Date

2/15/2006

Loan Approval Gross Amount

$276,200

Loan Approval from the SBA

Of the total $276,200 loan amount, the SBA guaranteed $207,150.

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 4 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't apply for a loan directly with the SBA. You need to 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like M&i Bank Fsb that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Microlending as a Small Business Funding Source

SBA Approved Banks in West Allis, Wisconsin

Find an SBA Lender in Wisconsin