Hopkins, MN Entrepreneur Gets SBA Loan to Buy Erbert & Gerbert's Subs & Clubs Franchise

Borrowing money to invest in an Erbert & Gerbert's Subs & Clubs franchise? Fidelity Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Erbert & Gerbert's Subs & Clubs franchise shouldn't be overly burdensome. In 2002, Fidelity Bank issued an SBA franchise loan to an entrepreneur in Hopkins, Minnesota. Because Erbert & Gerbert's Subs & Clubs was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

ERBERT & GERBERT'S SUBS & CLUB
HOPKINS, MN 55343

SBA Loan Lender

FIDELITY BANK
7600 PARKLAWN AVE
EDINA, MN 55435

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

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/25/2002

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Erbert & Gerbert's Subs & Clubs franchise. At the time of the loan, the company had 20 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money for an existing business, an SBA loan can be a great funding source

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Fidelity Bank and they will explain how you can get an SBA loan for your company.

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:

Erbert & Gerbert's Subs & Clubs

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