Wisconsin Entrepreneur Secures Financing to Buy Cousins Submarines restaurant Franchise

Borrowing money to purchase a Cousins Submarines restaurant franchise? Ozaukee Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Cousins Submarines restaurant franchise? If so, here's a 2005 SBA franchise loan that you should know about. Ozaukee Bank was the lender and the entrepreneur was based in Grafton, Wisconsin.

SBA Loan Borrower

COUSIN'S SUBS
GRAFTON, WI 53024

SBA Loan Lender

OZAUKEE BANK
N69 W5269 COLUMBIA RD
CEDARBURG, WI 53012

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/24/2005

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 Cousins Submarines restaurant franchise. At the time of the loan, the company had 22 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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