Wisconsin Entrepreneur Secures Financing to Buy Lee's Famous Recipe restaurant Franchise

Borrowing money to purchase a Lee's Famous Recipe restaurant franchise? River Valley Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Lee's Famous Recipe restaurant franchise? If so, here's a 2002 SBA franchise loan that you should know about. River Valley Bank was the lender and the entrepreneur was based in Wausau, Wisconsin.

SBA Loan Borrower

LEE'S FAMOUS RECIPE CHICKEN
WAUSAU, WI 54401

SBA Loan Lender

RIVER VALLEY BANK
327 N 17TH AVE
WAUSAU, WI 54401

This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/6/2002

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Lee's Famous Recipe restaurant franchise. At the time of the loan, the company had 25 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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:

Alternative Financing

Small Bank Loans in Wausau, Wisconsin

Where to Get an SBA Loan Wisconsin