Western Bank Provides SBA Loan to Buy Fantastic Sam's Franchise

Borrowing money to invest in a Fantastic Sam's franchise? Western Bank has a history of making these loans and they are guaranteed by the SBA.

Fantastic Sam's franchise loans are available to Eden Prairie, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Western Bank, based in Mounds View, Minnesota, issued an SBA franchise loan for a Fantastic Sam's franchise in 2003. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

FANTASTIC SAM'S
EDEN PRAIRIE, MN 55344

SBA Loan Lender

WESTERN BANK
2711 NE HWY 10
MOUNDS VIEW, MN 55112

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

4/15/2003

Loan Approval Gross Amount

$111,000

Loan Approval from the SBA

Of the total $111,000 loan amount, the SBA guaranteed $94,350.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Fantastic Sams

Startup Funding Tip

SBA 7A Banks in Mounds View, Minnesota

Getting an SBA Loan in Minnesota