Loan to Buy Ben Franklin Store Franchise Issued By Border State Bank

Borrowing money to invest in a Ben Franklin Store franchise? Border State Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in International Falls, Minnesota needed money to invest in a Ben Franklin Store franchise back in 2008. Border State Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

BEN FRANKLIN, INTERNATIONAL FA
INTERNATIONAL FALLS, MN 56649

SBA Loan Lender

BORDER STATE BANK
1414 HWY 71
INTERNATIONAL FALLS, MN 56649

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

1/23/2008

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 Ben Franklin Store franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

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 an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Border State Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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

Obtaining Funding - How to Borrow Money

Best Banks for Small Business in International Falls, Minnesota

Find an SBA Lender in Minnesota