Loan to Buy Pronto Markets Franchise Issued By Farmers Savings Bank

Borrowing money to buy a Pronto Markets franchise? Farmers Savings Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Earlville, Iowa needed money to invest in a Pronto Markets franchise back in 2001. Farmers Savings Bank issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

EARLVILLE PRONTO
EARLVILLE, IA 52041

SBA Loan Lender

FARMERS SAVINGS BANK
205 MAIN ST
COLESBURG, IA 52035

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . 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. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

447110 - Gasoline Stations with Convenience Stores

Loan Approval Date

5/2/2001

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pronto Markets franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Farmers Savings Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Farmers Savings Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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