U.S. Bank National Association Provides SBA Loan to Buy Grow Biz International Franchise

Need money to invest in a Grow Biz International franchise? U.S. Bank National Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Grow Biz International franchise shouldn't be too tough. In 2000, U.S. Bank National Association issued an SBA franchise loan to an entrepreneur in Cedar Rapids, Iowa. Because Grow Biz International was registered with the SBA's registry of franchises, this Iowa small business loan was issued on an expedited basis.

SBA Loan Borrower

GROW BIZ INTERNATIONAL, INC.
CEDAR RAPIDS, IA 54203

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5531 - Auto and Home Supply Stores

Loan Approval Date

3/8/2000

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $90,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Grow Biz International franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

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 U.S. Bank National Association 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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