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May 11, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Monona, Business Loans > Monona State Bank Monona Business Loans > Automotive Exhaust System Repair Shops Loan | ||||
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Wisconsin Small Business SBA Loans
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Local Business Gets a Wisconsin SBA LoanSearching for a Wisconsin business loan? This Wisconsin entrepreneur got a business loan, provided by a Wisconsin bank that works with the SBA to help small business owners. This small business, 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 Monona State Bank. We've got the inside scoop on this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE EXHAUST SYSTEM REPAIR SHOPS SBA Loan Lender MONONA STATE BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7533 - Automotive Exhaust System Repair Shops NAICS Code 811112 - Automotive Exhaust System Repair Loan Approval Date 3/12/2002 Loan Approval Gross Amount $125,000 Loan Approval from the SBA Of the total $125,000 loan amount, the SBA guaranteed $106,250. 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 5 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Banking Deregulation's Effects on Entrepreneurship SBA 7A Banks for Monona, Wisconsin Loans
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