River Bank SBA Loan to Physical Fitness Facilities Company

An SBA loan from River Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lacrosse, Wisconsin business owner got a $2,000,000 loan.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with River Bank, out of La Crosse, Wisconsin. The loan was granted and they received $2,000,000 to help grow their Lacrosse, Wisconsin business.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL FITNESS FACILITIES
LACROSSE, WI 54601

SBA Loan Lender

RIVER BANK
4401 MORMON COULEE RD
LA CROSSE, WI 54601

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan 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

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

3/28/2006

Loan Approval Gross Amount

$2,000,000

Loan Approval from the SBA

Of the total $2,000,000 loan amount, the SBA guaranteed $1,200,000.

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 53 employees. The SBA loan documents did not indicate that the company planned 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?

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.

We can help you find the best banks for small businesses in Lacrosse or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Understanding Dilution

SBA 7A Lenders in La Crosse, Wisconsin

Wisconsin SBA 7A Banks