Emprise Bank Provides SBA Loan to Buy General Nutrition Center Franchise

Need money to buy a General Nutrition Center franchise? Emprise Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Hays, Kansas and are interested in buying a General Nutrition Center franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Emprise Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MIND AND BODY INC
HAYS, KS 67601

SBA Loan Lender

EMPRISE BANK
1200 MAIN ST
HAYS, KS 67601

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

3/19/2003

Loan Approval Gross Amount

$324,000

Loan Approval from the SBA

Of the total $324,000 loan amount, the SBA guaranteed $243,000.

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 indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Emprise Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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

Dealing With Venture Capitalists

Good Banks for Small Business in Hays, Kansas

SBA Lenders in Kansas