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May 2, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Eau Claire, Business Loans > Royal Cu Eau Claire Business Loans > Backstrom's Steamatic Of Weste Loan | ||||
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Advice for Borrowing Money to Buy a Franchise
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Loan to Buy Steamatic Franchise Issued By Royal CuNeed money to purchase a Steamatic franchise? Royal Cu has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Eau Claire, Wisconsin needed money to invest in a Steamatic franchise back in 2007. Royal Cu issued an SBA franchise loan. Here are the details on this Wisconsin small business loan. SBA Loan Borrower BACKSTROM'S STEAMATIC OF WESTE SBA Loan Lender ROYAL CU The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561790 - Services to Buildings and Dwellings Loan Approval Date 7/31/2007 Loan Approval Gross Amount $515,700 Loan Approval from the SBA Of the total $515,700 loan amount, the SBA guaranteed $386,775. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Steamatic franchise. At the time of the loan, the company had 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We can help you find the best banks for small businesses in Eau Claire or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: SBA 7A Lenders in Eau Claire, Wisconsin SBA Participating Banks in Wisconsin
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