Grand Forks, ND Entrepreneur Gets SBA Loan to Buy Hobbytown Usa Franchise

Need money to invest in a Hobbytown Usa franchise? United Valley Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Grand Forks, North Dakota and are interested in buying a Hobbytown Usa franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2007 by United Valley Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HOBBYTOWN USA
GRAND FORKS, ND 58201

SBA Loan Lender

UNITED VALLEY BANK
2718 S COLUMBIA RD
GRAND FORKS, ND 58201

This lender issued this business loan under the SBA's 7(a) guaranteed loan program, 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.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

9/5/2007

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $87,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Hobbytown Usa franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the borrowed money would help generate 6 new jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

HobbyTown USA

Obtaining Funding From a Venture Capitalist

Best Banks for Small Business in Grand Forks, North Dakota

North Dakota SBA Banks