Brookings, SD Entrepreneur Gets SBA Loan to Buy Papa Murphy's Take & Bake Pizza Franchise

Need money to buy a Papa Murphy's Take & Bake Pizza franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Brookings, South Dakota needed money to invest in a Papa Murphy's Take & Bake Pizza franchise back in 2001. Stearns Bank issued an SBA franchise loan. Here are the details on this South Dakota small business loan.

SBA Loan Borrower

PAPA MURPHY'S OF BROOKINGS
BROOKINGS, SD 57006

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/7/2001

Loan Approval Gross Amount

$123,000

Loan Approval from the SBA

Of the total $123,000 loan amount, the SBA guaranteed $104,550.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Papa Murphy's Take & Bake Pizza franchise. At the time of the loan, the company had 13 employees. The SBA loan documents indicated that the loan would help generate 13 new jobs.

Start the Process for Getting an SBA Loan Today!

If you need money to start business in Brookings SD, you ought to talk with a local Brookings SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Brookings businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Stearns Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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