Wells Fargo Bank Provides SBA Loan to Buy Ground Round Restaurants Franchise

Need money to purchase a Ground Round Restaurants franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Bemidji, Minnesota needed money to invest in a Ground Round Restaurants franchise back in 2001. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

GROUND ROUND
BEMIDJI, MN 56601

SBA Loan Lender

WELLS FARGO BANK
2329 CENTRAL AVE NE
MINNEAPOLIS, MN 55418

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/13/2001

Loan Approval Gross Amount

$1,148,900

Loan Approval from the SBA

Of the total $1,148,900 loan amount, the SBA guaranteed $861,675.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ground Round Restaurants franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 12 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,148,900 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Ground Round

Business Credit Evaluation

Where to Get an SBA Loan in Minneapolis, Minnesota

SBA Lenders in Minnesota