Loan to Buy Athlete's Foot Franchise Issued By Baylake Bank

Need money to purchase an Athlete's Foot franchise? Baylake Bank has a history of making these loans and they are guaranteed by the SBA.

Athlete's Foot franchise loans are available to Marinette, Wisconsin entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Baylake Bank, based in Sturgeon Bay, Wisconsin, issued an SBA franchise loan for an Athlete's Foot franchise in 2001. We've got all the details on this Wisconsin small business loan.

SBA Loan Borrower

THE ATHLETE'S FOOT
MARINETTE, WI 54143

SBA Loan Lender

BAYLAKE BANK
217 N 4TH AVE
STURGEON BAY, WI 54235

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5139 - Footwear

NAICS Code

422340 - Footwear Wholesalers

Loan Approval Date

9/20/2001

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $59,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Athlete's Foot franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 Baylake Bank 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.

Related Links:

The Friends and Family Network

Good Banks for Small Business in Sturgeon Bay, Wisconsin

Wisconsin SBA Banks