Kenosha, WI Entrepreneur Gets SBA Loan to Buy Curves For Women Franchise

Need a loan to buy a Curves For Women franchise? First Banking Center has a history of making these loans and they are guaranteed by the SBA.

If you live near Kenosha, Wisconsin and are interested in buying a Curves For Women franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by First Banking Center. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CURVES FOR WOMEN
KENOSHA, WI 53142

SBA Loan Lender

FIRST BANKING CENTER
567 BROAD ST
LAKE GENEVA, WI 53147

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7991 - Physical Fitness Facilities

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

7/12/2002

Loan Approval Gross Amount

$27,000

Loan Approval from the SBA

Of the total $27,000 loan amount, the SBA guaranteed $22,950.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new 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.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into First Banking Center and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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