Wisconsin Entrepreneur Secures Financing to Buy Fantastic Sam's Franchise

Borrowing money to buy a Fantastic Sam's franchise? Cornerstone Community Bank has a history of making these loans and they are guaranteed by the SBA.

Fantastic Sam's franchise loans are available to Oconomowoc, Wisconsin entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Cornerstone Community Bank, based in Grafton, Wisconsin, issued an SBA franchise loan for a Fantastic Sam's franchise in 2003. We've got all the details on this Wisconsin small business loan.

SBA Loan Borrower

FANTASTIC SAMS
OCONOMOWOC, WI 53066

SBA Loan Lender

CORNERSTONE COMMUNITY BANK
2090 WISCONSIN AVE
GRAFTON, WI 53024

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

11/17/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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 Cornerstone Community 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:

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