An SBA 7(a) loan in Kenosha is the Small Business Administration's flagship guarantee program, allowing eligible businesses to borrow up to $5 million with longer repayment terms and lower down payments than conventional commercial credit.
SBA loans
The Small Business Administration 7a loan is a partial-guarantee product: the SBA pledges to reimburse the lender for a percentage of any default, which encourages banks and credit unions to approve deals they would otherwise decline. Loan proceeds can cover real estate purchase, equipment, working capital, refinancing, or a combination. Maximum loan size sits at $5 million, and repayment stretches to 10 years for equipment or working capital and 25 years for owner-occupied commercial real estate. Because we are a broker, Dawnfield Financial presents your package to multiple sba 7a loan lenders simultaneously, comparing appetite and structure before you sign.
To meet sba 7a loan qualifications, your business must operate for profit inside the United States, fall below the SBA size standards for your NAICS code, demonstrate reasonable owner equity injection, and exhaust other financing options on reasonable terms. The sba 7a loan requirements also ask for personal guarantees from any owner holding 20 percent or more, current business and personal tax returns, interim financials, and a narrative explaining use of funds. Lenders layer their own credit overlays on top of the sba 7a loan guidelines, so a 680 personal score may clear one institution while another wants 700. Our brokerage tests the market so you learn which lender will move before you invest application fees.
Kenosha's business mix runs heavy on precision manufacturing, food production along the I-94 corridor near Somers, and retail clusters in Pleasant Prairie. We have brokered sba 7a business loan files for a contract machining company acquiring a second mill, a bakery consolidating three high-rate merchant-cash advances into one term note, and a freight broker buying the office condo in Mount Pleasant where the team already leased space. The program adapts because the sba 7a loan criteria permit almost any general business purpose except passive real-estate holding or speculation.
How it works
Walk into our office at 3535 30th Ave, Kenosha, WI 53144 or call (262) 261-9512 to start the conversation. We will ask what you need the capital for, review a recent profit-and-loss statement, pull a soft credit snapshot, and sketch deal structure. Once you decide to proceed, we collect the full sba 7a loan application package, tax returns, balance sheet, rent roll if applicable, purchase agreement if you are buying real estate, and submit it to our network. Turnaround from submission to conditional approval typically spans three to five weeks, then another two weeks to closing if title and environmental reports cooperate. You pay closing costs and any lender fees; our broker compensation comes from the lender at funding, not out of your pocket as an upfront charge.
Banks publish sba 7a loan rates in ranges, but each institution prices credit differently based on loan size, collateral type, and relationship depth. A Racine credit union may love equipment deals under $500,000, while a Milwaukee correspondent lender prefers $2 million real-estate purchases. We know those appetites because we close loans every month, and that market intelligence keeps your file out of the decline pile.
A third-generation HVAC contractor wanted to buy the 8,000-square-foot service building his crew had leased for a decade in downtown Kenosha, two blocks west of the Metra station. Conventional financing required 25 percent down; the owner had 15 percent liquid and preferred to keep cash for inventory and payroll through winter. We brokered an sba 7a loan that accepted the 15 percent injection, stretched the note to 25 years, and closed in six weeks. The building now appears on his balance sheet, rent converts to principal, and the location remains stable even as the harbor district continues its slow build-out toward Winthrop Harbor.
Serving the Kenosha area
We know which lenders fund which kinds of Kenosha businesses, and we position your file where it fits.
One local broker, many lenders, and no cost to apply.
Common questions
Talk to a local advisor and get matched to the right program, no obligation.
Why Kenosha owners trust Dawnfield Financial
