Loan Census Banking News and Information
February 8, 2023  
 
 
  Business Loan Information  
 

SBA 7A Banks for Medford, Wisconsin Small Business Owners

 

 
Loan Census SBA Loan Info

Used Car Dealers Loans

Looking for loans for used car dealers? An SBA loan may be just what you've been looking for. This $80,000 used car dealers loan was issued by a Wisconsin bank.

Getting a small business loan in Medford, Wisconsin was important for this growing firm back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Abbybank, operating out of Abbotsford, Wisconsin. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

COMPANY TYPE: USED CAR DEALERS
MEDFORD, WI 54451

SBA Loan Lender

ABBYBANK
401 E SPRUCE ST
ABBOTSFORD, WI 54405

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

8/12/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $40,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Abbybank 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:

Borrowing Money from Friends and Family

Best Banks for Small Business in Abbotsford, Wisconsin

SBA Lenders in Wisconsin