North Dakota Entrepreneur Secures Financing to Buy Ben Franklin Store Franchise

Borrowing money to buy a Ben Franklin Store franchise? The National Bank Of Harvey has a history of making these loans and they are guaranteed by the SBA.

Ben Franklin Store franchise loans are available to Harvey, North Dakota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, The National Bank Of Harvey, based in Harvey, North Dakota, issued an SBA franchise loan for a Ben Franklin Store franchise in 2005. We've got all the details on this North Dakota small business loan.

SBA Loan Borrower

TUENGE ENTERPRISES, INC. DBA H
HARVEY, ND 58341

SBA Loan Lender

THE NATIONAL BANK OF HARVEY
920 LINCOLN AVE
HARVEY, ND 58341

This lender issued this loan for a small business under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

10/5/2005

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Ben Franklin Store franchise. At the time of the loan, the company had 9 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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

Ben Franklin Store

Business Line of Credit

Small Bank Loans in Harvey, North Dakota

North Dakota SBA Banks