Loan to Buy Dryer Vent Wizard Franchise Issued By The Bank Of Elk River

Need a loan to buy a Dryer Vent Wizard franchise? The Bank Of Elk River has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Clearwater, Minnesota needed money to invest in a Dryer Vent Wizard franchise back in 2006. The Bank Of Elk River issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

DRYER VENT WIZARD
CLEARWATER, MN 55320

SBA Loan Lender

THE BANK OF ELK RIVER
630 MAIN ST
ELK RIVER, MN 55330

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811412 - Appliance Repair and Maintenance

Loan Approval Date

11/9/2006

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Dryer Vent Wizard franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the borrowed money would help create 2 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like The Bank Of Elk River 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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