Borrow Money to Buy an Erbert & Gerbert's Subs & Clubs Franchise

Need money to purchase an Erbert & Gerbert's Subs & Clubs franchise? American Bank Center First has a history of making these loans and they are guaranteed by the SBA.

If you live near Bismarck, North Dakota and are interested in buying an Erbert & Gerbert's Subs & Clubs franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by American Bank Center First. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ERBERT & GERBERT'S SUBS & CLUB
BISMARCK, ND 58504

SBA Loan Lender

AMERICAN BANK CENTER FIRST
320 N 4TH ST
BISMARCK, ND 58501

This loan 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

722211 - Limited-Service Restaurants

Loan Approval Date

8/22/2005

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $112,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Erbert & Gerbert's Subs & Clubs franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

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