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April 25, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Janesville, Business Loans > Johnson Bank Janesville Business Loans > Fuddruckers Loan | ||||
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Johnson Bank SBA 7A Franchise Loans
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Janesville, WI Entrepreneur Gets SBA Loan to Buy Fuddrucker's FranchiseNeed money to buy a Fuddrucker's franchise? Johnson Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Janesville, Wisconsin and are interested in buying a Fuddrucker's franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Johnson Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower FUDDRUCKERS SBA Loan Lender JOHNSON BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/24/2003 Loan Approval Gross Amount $939,166 Loan Approval from the SBA Of the total $939,166 loan amount, the SBA guaranteed $704,374. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Fuddrucker's franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Find an SBA Lender in Janesville, Wisconsin
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