Loan to Buy General Nutrition Center Franchise Issued By Merchants Bank

Borrowing money to invest in a General Nutrition Center franchise? Merchants Bank has a history of making these loans and they are guaranteed by the SBA.

General Nutrition Center franchise loans are available to Hastings, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Merchants Bank, based in Hastings, Minnesota, issued an SBA franchise loan for a General Nutrition Center franchise in 2003. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

GENERAL NUTRITION CENTER
HASTINGS, MN 55033

SBA Loan Lender

MERCHANTS BANK
1525 VERMILLION ST, STE 200
HASTINGS, MN 55033

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5499 - Food Stores

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

4/14/2003

Loan Approval Gross Amount

$128,000

Loan Approval from the SBA

Of the total $128,000 loan amount, the SBA guaranteed $108,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a General Nutrition Center franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

We can help you find the best banks for small businesses in Hastings or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

General Nutrition Centers / GNC Live Well

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