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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Dunn Bros Coffee Loan | ||||
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How to Get SBA Loans in Albertville, Minnesota
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Albertville, MN Entrepreneur Gets SBA Loan to Buy Dunn Bros Coffee FranchiseNeed a loan to purchase a Dunn Bros Coffee franchise? Park Midway Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a Dunn Bros Coffee franchise? If so, here's a 2003 SBA franchise loan that you should know about. Park Midway Bank was the lender and the entrepreneur was based in Albertville, Minnesota. SBA Loan Borrower DUNN BROS COFFEE SBA Loan Lender PARK MIDWAY BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 6/13/2003 Loan Approval Gross Amount $259,900 Loan Approval from the SBA Of the total $259,900 loan amount, the SBA guaranteed $194,925. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Dunn Bros Coffee franchise. At the time of the loan, the company had 15 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: SBA 7A Banks for Saint Paul, Minnesota Loans
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