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May 18, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > River Falls, Business Loans > 1st National Bank - River Falls River Falls Business Loans > Groceries And Related Products Loan | ||||
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Banks in Wisconsin
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Loans for Grocery and Related Products WholesalersLooking for loans for grocery and related products wholesalers? The SBA may be the answer. This $150,000 grocery and related products wholesalers loan was issued by a Wisconsin bank. This small firm knew how to go about getting a business bank loan. Based in Hudson, Wisconsin, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was 1st National Bank - River Falls, based in River Falls, Wisconsin. SBA Loan Borrower COMPANY TYPE: GROCERIES AND RELATED PRODUCTS SBA Loan Lender 1ST NATIONAL BANK - RIVER FALLS This lender issued this commercial loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5149 - Groceries and Related Products NAICS Code 422490 - Grocery and Related Products Wholesalers Loan Approval Date 5/25/2004 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 an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Although it's called an SBA loan, you 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. This SBA loan was for $150,000. How would you spend $150,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks in River Falls, Wisconsin
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