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May 14, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Madison, Business Loans > The Park Bank Madison Business Loans > Apparel And Accessory Stores Loan | ||||
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How to Get a Small Business Loan in Madison, Wisconsin
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The Park Bank Gives Bank Loan to Apparel And Accessory Stores CompanyWisconsinBank loans are available to Wisconsin firms through the SBA. In this case, a Wisconsin bank provides the loan. This company, based in Madison, Wisconsin, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from The Park Bank. We've got the inside scoop on this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: APPAREL AND ACCESSORY STORES SBA Loan Lender THE PARK BANK This lender issued this loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started 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 5699 - Apparel and Accessory Stores NAICS Code 448190 - Clothing Stores Loan Approval Date 12/30/2003 Loan Approval Gross Amount $124,500 Loan Approval from the SBA Of the total $124,500 loan amount, the SBA guaranteed $105,825. 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 2 employees. The SBA loan application for the borrower did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Park Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Obtaining Funding - Friends and Family Best Madison, Wisconsin Banks for Small Business
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