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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Maple Grove, Business Loans > Americana Community Bank Maple Grove Business Loans > Dry Cleaning Station Loan | ||||
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Chanhassen, Minnesota Bank Loan
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Borrow Money to Buy a Dry Cleaning Station FranchiseNeed a loan to invest in a Dry Cleaning Station franchise? Americana Community Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Chanhassen, Minnesota and are interested in buying a Dry Cleaning Station franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Americana Community Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower DRY CLEANING STATION SBA Loan Lender AMERICANA COMMUNITY BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812320 - Drycleaning and Laundry Services Loan Approval Date 2/14/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Dry Cleaning Station franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Americana Community Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Determining Proper Capital Structure for a Business SBA Banks in Maple Grove, Minnesota
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