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May 18, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Kenosha, Business Loans > Southport Bank Kenosha Business Loans > Art Dealers Loan | ||||
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Kenosha, Wisconsin Bank for SBA Loans
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Business Loans for Art DealersWith these business loans for art dealers, the SBA guarantees the lender that the loan will be repaid. This art dealers loan for $175,000 was given to a Wisconsin entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kenosha, Wisconsin was able to borrow $175,000 from Southport Bank. The SBA made the loan possible by guaranteeing $131,250 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: ART DEALERS SBA Loan Lender SOUTHPORT BANK This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 453920 - Art Dealers Loan Approval Date 8/29/2007 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 5 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan Don't forget. To get an SBA loan, you must 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 Southport Bank 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: SBA Approved Banks in Kenosha, Wisconsin
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