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May 14, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Milwaukee, Business Loans > M&i Marshall & Ilsley Bank Milwaukee Business Loans > Sporting Goods Stores And Bicycle Shops Loan | ||||
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SBA Lender Eden Prairie Minnesota
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Minnesota SBA Loan Issued to Sporting Goods Stores And Bicycle Shops CompanyMinnesotaSBA loans are available to Minnesota entrepreneurs through the SBA. In this case, a Wisconsin bank provides the loan. You can learn something about getting a small business loan in Eden Prairie, Minnesota by studying this loan to a local business, made back in 2001. Banks like M&i Marshall & Ilsley Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES AND BICYCLE SHOPS SBA Loan Lender M&I MARSHALL & ILSLEY BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. 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. Today, you can borrow up to $100,000 through the low-doc SBA program. 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 12/27/2001 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $42,500. More Information on This SBA Loan The borrower borrowed this money for an existing 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 22 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. M&i Marshall & Ilsley Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, M&i Marshall & Ilsley Bank 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. Related Links: Determining Proper Capital Structure for a Business Best Banks for Small Business in Milwaukee, Wisconsin Find an SBA Lender in Wisconsin
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