Borrow Money to Buy a Blockbuster Video Franchise

Need a loan to purchase a Blockbuster Video franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Forest Lake, Minnesota needed money to invest in a Blockbuster Video franchise back in 2003. Wells Fargo Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

BLOCKBUSTER VIDEO
FOREST LAKE, MN 55025

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This loan for a small business was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

532230 - Video Tape and Disc Rental

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$484,000

Loan Approval from the SBA

Of the total $484,000 loan amount, the SBA guaranteed $363,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Blockbuster Video franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Wells Fargo Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Wells Fargo Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Blockbuster, Inc.

Business Incubators

SBA 7A Lenders in Minneapolis, Minnesota

Getting a Business Loan in Minnesota