Wisconsin Entrepreneur Secures Financing to Buy Servpro Franchise

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

Servpro franchise loans are available to Germantown, Wisconsin entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, M&i Marshall & Ilsley Bank, based in Appleton, Wisconsin, issued an SBA franchise loan for a Servpro franchise in 2001. We've got all the details on this Wisconsin small business loan.

SBA Loan Borrower

SERPRO OF MILWAUKEE NORTH INC
GERMANTOWN, WI 53022

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
221 W COLLEGE AVE
APPLETON, WI 54911

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7349 - Building Cleaning and Maintenance Services, N.E.C

NAICS Code

561720 - Janitorial Services

Loan Approval Date

11/19/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Servpro franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $150,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

ServPro

Banking Deregulation's Effects on Entrepreneurship

SBA Approved Banks in Appleton, Wisconsin

SBA Lenders in Wisconsin