Western State Bank Provides SBA Loan to Buy Blimpie Franchise

Borrowing money to buy a Blimpie franchise? Western State Bank has a history of making these loans and they are guaranteed by the SBA.

Blimpie franchise loans are available to Fargo, North Dakota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Western State Bank, based in West Fargo, North Dakota, issued an SBA franchise loan for a Blimpie franchise in 2002. We've got all the details on this North Dakota small business loan.

SBA Loan Borrower

BLIMPIE SUBS & SALADS
FARGO, ND 58103

SBA Loan Lender

WESTERN STATE BANK
755 13TH AVE EAST
WEST FARGO, ND 58078

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.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/21/2002

Loan Approval Gross Amount

$82,800

Loan Approval from the SBA

Of the total $82,800 loan amount, the SBA guaranteed $70,380.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had 10 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This SBA loan was for $82,800. How would you spend $82,800 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Blimpie Subs & Salads

Role of Business Plan When Raising Money

Small Bank Loans in West Fargo, North Dakota

SBA Lenders in North Dakota