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May 10, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Menomonee Falls, Business Loans > Mwbank Menomonee Falls Business Loans > Gasoline Engine And Engine Parts Manufacturing Loan | ||||
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Menomonee Falls, Wisconsin SBA 7A Banks
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Menomonee Falls, Wisconsin Bank Gives SBA Loan to Gasoline Engine And Engine Parts Manufacturing CompanyThinking about meeting with a Menomonee Falls, Wisconsin bank about a small business loan? Here's one Wisconsin business loan, issued by a Menomonee Falls bank, that was approved by the SBA. Applying for an SBA loan with Mwbank worked out well for our friends at one local company in New Berlin, Wisconsin. The business was able to get an SBA loan for $1,000,000. Way to go! SBA Loan Borrower COMPANY TYPE: GASOLINE ENGINE AND ENGINE PARTS MANUFACTURING SBA Loan Lender MWBANK This lender issued this bank loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 336312 - Gasoline Engine and Engine Parts Manufacturing Loan Approval Date 9/7/2005 Loan Approval Gross Amount $1,000,000 Loan Approval from the SBA Of the total $1,000,000 loan amount, the SBA guaranteed $900,000. 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 2 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. 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: Determining Proper Capital Structure for a Business SBA 7A Banks in Menomonee Falls, Wisconsin
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