Wisconsin Entrepreneur Secures Financing to Buy Straight Shot Express Franchise

Need money to buy a Straight Shot Express franchise? Community First Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Schofield, Wisconsin and are interested in buying a Straight Shot Express franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Community First Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

STRAIGHT SHOT EXPRESS
SCHOFIELD, WI 54476

SBA Loan Lender

COMMUNITY FIRST BANK
5525 HWY 10 EAST
STEVENS POINT, WI 54481

This was a Low Documentation SBA loan. The SBA started this program to reduce 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

3/27/2001

Loan Approval Gross Amount

$35,000

Loan Approval from the SBA

Of the total $35,000 loan amount, the SBA guaranteed $29,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Straight Shot Express franchise. At the time of the loan, the company had 21 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Straight Shot Express

Accountant's Role in Securing Financing

SBA 7A Banks in Stevens Point, Wisconsin

SBA Participating Banks in Wisconsin