Borrow Money to Buy a Padgett Business Service Franchise
Need a loan to purchase a Padgett Business Service franchise? Bnc National Bank has a history of making these loans and they are guaranteed by the SBA.
An entrepreneur in Bismarck, North Dakota needed money to invest in a Padgett Business Service franchise back in 2005. Bnc National Bank issued an SBA franchise loan. Here are the details on this North Dakota small business loan.
SBA Loan Borrower
PADGETT BUSINESS SERVICES
BISMARCK, ND 58503
SBA Loan Lender
BNC NATIONAL BANK
2425 E CAMELBACK RD, STE 100
PHOENIX, AZ 85016
The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
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
541211 - Certified Public Accountants
Loan Approval Date
7/8/2005
Loan Approval Gross Amount
$25,000
Loan Approval from the SBA
Of the total $25,000 loan amount, the SBA guaranteed $12,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was used to buy a Padgett Business Service franchise. At the time of the loan, the company
had 5 employees. The loan application indicated that the loan would help generate 1 new job and retain 4 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.
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:
Padgett Business Services
Debt Financing
Small Business Banks in Phoenix, Arizona
Where to Get an SBA Loan Arizona