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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 > Retail Stores Loan | ||||
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Madison, Wisconsin SBA 7A Banks
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Madison, Wisconsin Lender Lends Money to Retail Stores CompanyThinking about meeting with a Madison, Wisconsin bank about an SBA loan? Here's one Wisconsin business loan, issued by a Madison bank, that was approved by the SBA. Applying for an SBA loan with The Park Bank worked out well for our friends at one local firm in Madison, Wisconsin. They received an SBA loan for $70,000. Awesome! SBA Loan Borrower COMPANY TYPE: RETAIL STORES SBA Loan Lender THE PARK BANK This lender issued this SBA small business 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 5999 - Retail Stores NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 12/14/2006 Loan Approval Gross Amount $70,000 Loan Approval from the SBA Of the total $70,000 loan amount, the SBA guaranteed $59,500. 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 2 employees. This SBA loan request did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Remember, 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 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: Who Lends Money to Small Businesses in Madison, Wisconsin
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