Bristol, WI Entrepreneur Gets SBA Loan to Buy Jimmy John's Franchise

Borrowing money to invest in a Jimmy John's franchise? Community State Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Jimmy John's franchise shouldn't be overly burdensome. In 2006, Community State Bank issued an SBA franchise loan to an entrepreneur in Bristol, Wisconsin. Because Jimmy John's was registered with the SBA's registry of franchises, this Wisconsin small business loan was issued on an expedited basis.

SBA Loan Borrower

FAWVER & COMPANY, INC.
BRISTOL, WI 53104

SBA Loan Lender

COMMUNITY STATE BANK
1500 MAIN ST
UNION GROVE, WI 53182

This business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

12/7/2006

Loan Approval Gross Amount

$250,000

Loan Approval from the SBA

Of the total $250,000 loan amount, the SBA guaranteed $125,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 24 employees. The loan application indicated that the loan would help generate 16 new jobs and retain 24 existing jobs.

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.

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.

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