Borrow Money to Buy a Woodcraft Franchise Corporation Franchise

Borrowing money to buy a Woodcraft Franchise Corporation franchise? Fifth Third Bank has a history of making these loans and they are guaranteed by the SBA.

Woodcraft Franchise Corporation franchise loans are available to Lenexa, Kansas entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Fifth Third Bank, based in Cleveland, Ohio, issued an SBA franchise loan for a Woodcraft Franchise Corporation franchise in 2004. We've got all the details on this Kansas small business loan.

SBA Loan Borrower

WOODCRAFT
LENEXA, KS 66219

SBA Loan Lender

FIFTH THIRD BANK
600 SUPERIOR AVE EAST
CLEVELAND, OH 44114

This lender issued this loan for a small business under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5963 - Direct Selling Establishments

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

6/21/2004

Loan Approval Gross Amount

$850,000

Loan Approval from the SBA

Of the total $850,000 loan amount, the SBA guaranteed $637,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Woodcraft Franchise Corporation franchise. At the time of the loan, the company had 12 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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