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May 9, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Madison, Business Loans > First Business Bank Madison Business Loans > Optical Goods Stores Loan | ||||
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Wisconsin Bank SBA Loans
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First Business Bank SBA Loan to Optical Goods Stores CompanyLooking to get a Wisconsin small business loan? Here's one Wisconsin business loan that was approved by the SBA. This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with First Business Bank, out of Madison, Wisconsin. The loan was granted and they received $150,000 to help grow their Monona, Wisconsin business. SBA Loan Borrower COMPANY TYPE: OPTICAL GOODS STORES SBA Loan Lender FIRST BUSINESS 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 5995 - Optical Goods Stores Loan Approval Date 7/25/2000 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $112,500. 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 9 employees. The SBA loan documents did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Raising VC Money for Social Networking Companies SBA Participating Banks in Madison, Wisconsin Getting an SBA Loan in Wisconsin
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