Wisconsin Entrepreneur Secures Financing to Buy Mr. Rooter Franchise

Need money to invest in a Mr. Rooter franchise? Fox Communities Cu has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Mr. Rooter franchise? If so, here's a 2003 SBA franchise loan that you should know about. Fox Communities Cu was the lender and the entrepreneur was based in Little Chute, Wisconsin.

SBA Loan Borrower

MR. ROOTER
LITTLE CHUTE, WI 54140

SBA Loan Lender

FOX COMMUNITIES CU
3401 E CALUMET ST
APPLETON, WI 54915

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

561790 - Services to Buildings and Dwellings

Loan Approval Date

5/1/2003

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 Mr. Rooter franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees.

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

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.

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:

Mr. Rooter Plumbing

Bank Credit Lines

SBA Approved Banks in Appleton, Wisconsin

SBA Wisconsin Banks