Grand Forks, ND Entrepreneur Gets SBA Loan to Buy Sylvan Learning Center Franchise

Need a loan to purchase a Sylvan Learning Center franchise? Alerus Financial has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Sylvan Learning Center franchise? If so, here's a 2003 SBA franchise loan that you should know about. Alerus Financial was the lender and the entrepreneur was based in Grand Forks, North Dakota.

SBA Loan Borrower

SYLVAN LEARNING CENTER
GRAND FORKS, ND 58201

SBA Loan Lender

ALERUS FINANCIAL
901 13TH AVE EAST
WEST FARGO, ND 58078

This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611699 - Schools and Instruction

Loan Approval Date

8/5/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Sylvan Learning Center franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Alerus Financial had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Alerus Financial 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:

Sylvan Learning Center

Obtaining Funding - Friends and Family

Good Banks for Small Business in West Fargo, North Dakota

SBA Lenders in North Dakota