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May 18, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Houston, Business Loans > Small Business Loan Source LLC Houston Business Loans > Carwashes Loan | ||||
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Wisconsin SBA Loan from Small Business Loan Source LLC
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SBA Loan from Small Business Loan Source LLC Helps Carwashes CompanySmall Business Loan Source LLC is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Wisconsin entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Small Business Loan Source LLC, out of Houston, Texas. The loan was granted and they received $874,500 to help grow their Middleton, Wisconsin business. SBA Loan Borrower COMPANY TYPE: CARWASHES SBA Loan Lender SMALL BUSINESS LOAN SOURCE LLC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA business loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7542 - Carwashes NAICS Code 811192 - Car Washes Loan Approval Date 9/26/2002 Loan Approval Gross Amount $874,500 Loan Approval from the SBA Of the total $874,500 loan amount, the SBA guaranteed $655,875. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money to grow a business, an SBA loan can be a great way to raise money There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Role of Business Plan When Raising Money SBA Participating Banks in Houston, Texas
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