Milwaukee, WI Entrepreneur Gets SBA Loan to Buy Jimmy John's Franchise

Need a loan to buy a Jimmy John's franchise? Marine Bank, Springfield has a history of making these loans and they are guaranteed by the SBA.

Jimmy John's franchise loans are available to Milwaukee, Wisconsin entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Marine Bank, Springfield, based in Springfield, Illinois, issued an SBA franchise loan for a Jimmy John's franchise in 2000. We've got all the details on this Wisconsin small business loan.

SBA Loan Borrower

JIMMY JOHN'S MILWAUKEE
MILWAUKEE, WI 53211

SBA Loan Lender

MARINE BANK, SPRINGFIELD
3050 W WABASH AVE
SPRINGFIELD, IL 62704

This was a Low Documentation SBA loan. The SBA started this program to minimize 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

5812 - Eating Places

Loan Approval Date

3/15/2000

Loan Approval Gross Amount

$148,000

Loan Approval from the SBA

Of the total $148,000 loan amount, the SBA guaranteed $111,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Jimmy John's franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Marine Bank, Springfield so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Where to Get an SBA Loan in Springfield, Illinois

Getting an SBA Loan in Illinois