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November 21, 2024 |
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| Home > Small Business Lenders by State > Wisconsin Business Loan Sources > Milwaukee, Business Loans > Legacy Bank Milwaukee Business Loans > Lincoln Park Mobil Loan | ||||
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How to Get SBA Loans in Milwaukee, Wisconsin
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Milwaukee, WI Entrepreneur Gets SBA Loan to Buy Mobil Oil stations FranchiseNeed money to purchase a Mobil Oil stations franchise? Legacy Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Milwaukee, Wisconsin and are interested in buying a Mobil Oil stations franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Legacy Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower LINCOLN PARK MOBIL SBA Loan Lender LEGACY BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5541 - Gasoline Service Stations NAICS Code 447110 - Gasoline Stations with Convenience Stores Loan Approval Date 10/23/2003 Loan Approval Gross Amount $888,000 Loan Approval from the SBA Of the total $888,000 loan amount, the SBA guaranteed $666,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Mobil Oil stations franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company planned to use the funding to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank. 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: Small Bank Loans in Milwaukee, Wisconsin
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