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April 29, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Milwaukee, Business Loans > Legacy Bank Milwaukee Business Loans > Physical Fitness Facilities Loan | ||||
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Legacy Bank Milwaukee
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Legacy Bank SBA Loan to Physical Fitness Facilities CompanyLegacy Bank has a track record as a leading provider of SBA loans. Find out how this Wisconsin entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Milwaukee, Wisconsin was able to borrow $148,500 from Legacy Bank. The SBA made the loan possible by guaranteeing $126,225 of this Wisconsin small business loan. SBA Loan Borrower COMPANY TYPE: PHYSICAL FITNESS FACILITIES SBA Loan Lender LEGACY BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7991 - Physical Fitness Facilities NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 12/10/2002 Loan Approval Gross Amount $148,500 Loan Approval from the SBA Of the total $148,500 loan amount, the SBA guaranteed $126,225. 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 11 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Legacy Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Legacy Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: SBA Banks in Milwaukee, Wisconsin
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