Minnesota Entrepreneur Secures Financing to Buy General Nutrition Center Franchise

Borrowing money to buy a General Nutrition Center franchise? Premier Bank Minnesota has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a General Nutrition Center franchise? If so, here's a 2002 SBA franchise loan that you should know about. Premier Bank Minnesota was the lender and the entrepreneur was based in Chaska, Minnesota.

SBA Loan Borrower

GNC
CHASKA, MN 55318

SBA Loan Lender

PREMIER BANK MINNESOTA
500 W 98TH ST
BLOOMINGTON, MN 55420

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/12/2002

Loan Approval Gross Amount

$104,000

Loan Approval from the SBA

Of the total $104,000 loan amount, the SBA guaranteed $88,400.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

We can help you find the best banks for small businesses in Chaska or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

General Nutrition Centers / GNC Live Well

Business Line of Credit

Banks in Bloomington, Minnesota

Minnesota SBA Banks