Madison, WI Entrepreneur Gets SBA Loan to Buy My Gym Franchise

Need money to buy a My Gym franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Madison, Wisconsin needed money to invest in a My Gym franchise back in 2003. M&i Marshall & Ilsley Bank issued an SBA franchise loan. Here are the details on this Wisconsin small business loan.

SBA Loan Borrower

WANDMACHER, LLC
MADISON, WI 53719

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
770 N WATER ST
MILWAUKEE, WI 53202

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

7/1/2003

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $120,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a My Gym franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the borrowed money would help generate 7 new jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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 $160,000 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:

My Gym Children's Fitness Centers

504 Loans

Small Bank Loans in Milwaukee, Wisconsin

SBA Wisconsin Banks