Minnesota Entrepreneur Secures Financing to Buy Radio Shack Franchise

Need money to purchase a Radio Shack franchise? Amer National Bank - Minnesota has a history of making these loans and they are guaranteed by the SBA.

If you live near Fergus Falls, Minnesota and are interested in buying a Radio Shack franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2001 by Amer National Bank - Minnesota. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

RADIO SHACK
FERGUS FALLS, MN 56537

SBA Loan Lender

AMER NATIONAL BANK - MINNESOTA
727 WESTERN AVE NORTH
FERGUS FALLS, MN 56537

This lender issued this debt financing under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5731 - Radio, TV, and Consumer Electronics Retailing

NAICS Code

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

4/19/2001

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company in Fergus Falls MN, you ought to talk with a local Fergus Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Fergus Falls businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $45,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

RadioShack

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Fergus Falls, Minnesota

Minnesota SBA Banks