Loan to Buy Steamatic Franchise Issued By Royal Cu

Need 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
EAU CLAIRE, WI 54703

SBA Loan Lender

ROYAL CU
200 RIVERFRONT TER
EAU CLAIRE, WI 54703

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:

Steamatic, Inc.

Small Business Loan

SBA 7A Lenders in Eau Claire, Wisconsin

SBA Participating Banks in Wisconsin