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December 22, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Fargo, Business Loans > State Bank & Trust Fargo Business Loans > Schlotzsky's Deli Loan | ||||
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How to Get SBA Loans in Fargo, North Dakota
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State Bank & Trust Provides SBA Loan to Buy Schlotzsky's Sandwich Shop FranchiseBorrowing money to purchase a Schlotzsky's Sandwich Shop franchise? State Bank & Trust has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Fargo, North Dakota needed money to invest in a Schlotzsky's Sandwich Shop franchise back in 2002. State Bank & Trust issued an SBA franchise loan. Here are the details on this North Dakota small business loan. SBA Loan Borrower SCHLOTZSKY'S DELI SBA Loan Lender STATE BANK & TRUST This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with borrowing money. The low-doc program requires 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 722211 - Limited-Service Restaurants Loan Approval Date 6/11/2002 Loan Approval Gross Amount $131,200 Loan Approval from the SBA Of the total $131,200 loan amount, the SBA guaranteed $111,520. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Schlotzsky's Sandwich Shop franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Fargo or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Advice on Getting a Small Business Loan Small Bank Loans in Fargo, North Dakota Getting a Business Loan in North Dakota
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