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May 18, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Wausau, Business Loans > Associated Bank Wausau Business Loans > Sewing, Needlework, And Piece Goods Stores Loan | ||||
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SBA Lender Wausau
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Entrepreneur Works With Wausau, Wisconsin Bank to Get an SBA LoanThinking about meeting with a Wausau, Wisconsin bank about an SBA loan? Here's one Wisconsin business loan, issued by a Wausau bank, that was approved by the SBA. Applying for an SBA loan with Associated Bank worked out well for our friends at one local business in Mosinee, Wisconsin. They received an SBA loan for $42,000. Great job! SBA Loan Borrower COMPANY TYPE: SEWING, NEEDLEWORK, AND PIECE GOODS STORES SBA Loan Lender ASSOCIATED BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5949 - Sewing, Needlework, and Piece Goods Stores NAICS Code 451130 - Sewing, Needlework, and Piece Goods Stores Loan Approval Date 2/7/2001 Loan Approval Gross Amount $42,000 Loan Approval from the SBA Of the total $42,000 loan amount, the SBA guaranteed $35,700. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Best Banks in Wausau, Wisconsin
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