Brandon, SD Entrepreneur Gets SBA Loan to Buy Orion Food Systems Franchise

Borrowing money to purchase an Orion Food Systems franchise? First Savings Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Brandon, South Dakota and are interested in buying an Orion Food Systems franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by First Savings Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

CATERING BY MARLINS INC.
BRANDON, SD 57005

SBA Loan Lender

FIRST SAVINGS BANK
2301 E 10TH ST
SIOUX FALLS, SD 57103

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

2/14/2000

Loan Approval Gross Amount

$225,000

Loan Approval from the SBA

Of the total $225,000 loan amount, the SBA guaranteed $168,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Orion Food Systems franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

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

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Credit Cards

Best Sioux Falls, South Dakota Banks for Small Business

Getting an SBA Loan in South Dakota