Illinois Entrepreneur Secures Financing to Buy Roly Poly Franchise

Need a loan to purchase a Roly Poly franchise? Mid America Bank, Fsb has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Roly Poly franchise requires some effort but others before you have been successful. In 2003, Mid America Bank, Fsb issued an SBA franchise loan to an entrepreneur in Wheaton, Illinois. Because Roly Poly was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

ROLY POLY DANADA SQUARE
WHEATON, IL 60561

SBA Loan Lender

MID AMERICA BANK, FSB
1823 CENTRE POINT CIRCLE
NAPERVILLE, IL 60566

This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

1/31/2003

Loan Approval Gross Amount

$112,800

Loan Approval from the SBA

Of the total $112,800 loan amount, the SBA guaranteed $95,880.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Roly Poly franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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.

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