Loan to Buy Plato's Closet Franchise Issued By M&i Marshall & Ilsley Bank

Borrowing money to purchase a Plato's Closet franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Maple Grove, Minnesota and are interested in buying a Plato's Closet franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by M&i Marshall & Ilsley Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MY CLOSETS, INC.
Maple Grove, MN 55311

SBA Loan Lender

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

This loan 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

453310 - Used Merchandise Stores

Loan Approval Date

11/30/2004

Loan Approval Gross Amount

$20,000

Loan Approval from the SBA

Of the total $20,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Plato's Closet franchise. At the time of the loan, the company had 6 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Plato's Closet

Equity Financing

Best Banks for Small Business in Milwaukee, Wisconsin

SBA Participating Banks in Wisconsin