Minnesota Entrepreneur Secures Financing to Buy Fastsigns Franchise

Borrowing money to purchase a Fastsigns franchise? Associated Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Fastsigns franchise shouldn't be too tough. In 2000, Associated Bank issued an SBA franchise loan to an entrepreneur in Eden Prairie, Minnesota. Because Fastsigns was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

FASTSIGNS
EDEN PRAIRIE, MN 55344

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

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

SIC Code

7312 - Outdoor Advertising Services

NAICS Code

541850 - Display Advertising

Loan Approval Date

8/15/2000

Loan Approval Gross Amount

$30,000

Loan Approval from the SBA

Of the total $30,000 loan amount, the SBA guaranteed $15,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fastsigns franchise. At the time of the loan, the company had 2 employees. The loan application indicated that the loan would help generate 1 new job and retain 3 existing jobs.

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

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

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 Associated 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:

FASTSIGNS

Raising Venture Capital

Who Lends Money to Small Businesses in Minneapolis, Minnesota

Minnesota SBA 7A Banks