Neenah, WI Entrepreneur Gets SBA Loan to Buy Snap-On-Tools Franchise

Borrowing money to purchase a Snap-On-Tools franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Neenah, Wisconsin and are interested in buying a Snap-On-Tools franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Wells Fargo Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SNAP-ON TOOLS
NEENAH, WI 54956

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This lender issued this commercial loan under the SBA's 7A loan, 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

3339 - Primary Nonferrous Metal Smelting and Refining

NAICS Code

423710 - Hardware Merchant Wholesalers

Loan Approval Date

12/20/2006

Loan Approval Gross Amount

$179,600

Loan Approval from the SBA

Of the total $179,600 loan amount, the SBA guaranteed $134,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Snap-On-Tools franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Wells Fargo Bank 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.

Related Links:

Snap-on-Tools Company

The Friends and Family Network

SBA 7A Banks for Minneapolis, Minnesota Loans

SBA Lenders in Minnesota