Loan to Buy Sylvan Learning Center Franchise Issued By Northern National Bank

Need money to invest in a Sylvan Learning Center franchise? Northern National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Sylvan Learning Center franchise requires some effort but others before you have been successful. In 2003, Northern National Bank issued an SBA franchise loan to an entrepreneur in Baxter, Minnesota. Because Sylvan Learning Center was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

SYLVAN LEARNING CENTER
BAXTER, MN 56401

SBA Loan Lender

NORTHERN NATIONAL BANK
24110 SMILEY RD
NISSWA, MN 56468

This debt financing was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

611710 - Educational Support Services

Loan Approval Date

3/26/2003

Loan Approval Gross Amount

$102,000

Loan Approval from the SBA

Of the total $102,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 6 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Northern National Bank and they will explain how you can get an SBA loan for your company.

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:

Sylvan Learning Center

Financing Your Business

SBA Approved Banks in Nisswa, Minnesota

Getting a Business Loan in Minnesota