Illinois Entrepreneur Secures Financing to Buy Fast Frame Franchise

Need money to purchase a Fast Frame franchise? Mid America Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.

If you live near Lake In The Hills, Illinois and are interested in buying a Fast Frame franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Mid America Bank, Fsb. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FASTFRAME
LAKE IN THE HILLS, IL 60156

SBA Loan Lender

MID AMERICA BANK, FSB
1823 CENTRE POINT CIRCLE
NAPERVILLE, IL 60566

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

7699 - Repair Shops and Related Services

NAICS Code

442299 - Home Furnishings Stores

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fast Frame franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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 $120,000 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:

FASTFRAME USA INC.

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