Park Midway Bank Provides SBA Loan to Buy Mail Boxes Etc. Usa Franchise

Borrowing money to purchase a Mail Boxes Etc. Usa franchise? Park Midway Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Brooklyn Park, Minnesota and are interested in buying a Mail Boxes Etc. Usa franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Park Midway Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

UPS STORE
BROOKLYN PARK, MN 55445

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

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

491110 - Postal Service

Loan Approval Date

9/19/2003

Loan Approval Gross Amount

$155,200

Loan Approval from the SBA

Of the total $155,200 loan amount, the SBA guaranteed $116,400.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mail Boxes Etc. Usa franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Park Midway Bank and they will explain how you can get an SBA loan for your company.

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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