Northern National Bank Provides SBA Loan to Buy Godfather's Pizza Franchise

Need money to buy a Godfather's Pizza franchise? Northern National Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Baxter, Minnesota and are interested in buying a Godfather's Pizza franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Northern National Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

GODFATHER'S PIZZA
BAXTER, MN 56425

SBA Loan Lender

NORTHERN NATIONAL BANK
24110 SMILEY RD
NISSWA, MN 56468

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

6/28/2002

Loan Approval Gross Amount

$236,000

Loan Approval from the SBA

Of the total $236,000 loan amount, the SBA guaranteed $177,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Godfather's Pizza franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are working on finding money to start a business in Baxter MN, you ought to talk with a local Baxter SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baxter businesses.

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:

Godfather's Pizza

Obtaining Funding - Friends and Family

Small Bank Loans in Nisswa, Minnesota

Getting an SBA Loan in Minnesota