Center National Bank Provides SBA Loan to Buy Pizza Ranch Franchise

Need a loan to purchase a Pizza Ranch franchise? Center National Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pizza Ranch franchise is doable. In 2004, Center National Bank issued an SBA franchise loan to an entrepreneur in Litchfield, Minnesota. Because Pizza Ranch was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

PIZZA RANCH (RICK J. DESMITH A
LITCHFIELD, MN 55355

SBA Loan Lender

CENTER NATIONAL BANK
301 N RAMSEY AVE
LITCHFIELD, MN 55355

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/15/2004

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pizza Ranch franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Raising Venture Capital

Small Business Banks in Litchfield, Minnesota

SBA Lenders in Minnesota