Maplewood, MN Entrepreneur Gets SBA Loan to Buy Figaro's Italian Pizza Franchise

Borrowing money to buy a Figaro's Italian Pizza franchise? First National Bank Minnesota has a history of making these loans and they are guaranteed by the SBA.

Figaro's Italian Pizza franchise loans are available to Maplewood, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First National Bank Minnesota, based in Saint Peter, Minnesota, issued an SBA franchise loan for a Figaro's Italian Pizza franchise in 2004. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

FIGARO'S ITALIAN PIZZA
MAPLEWOOD, MN 55109

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
226 NASSAU ST
SAINT PETER, MN 56082

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/18/2004

Loan Approval Gross Amount

$127,000

Loan Approval from the SBA

Of the total $127,000 loan amount, the SBA guaranteed $63,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Figaro's Italian Pizza franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the borrowed money would help generate 12 new jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank Minnesota so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Figaro's Italian Pizza, Inc.

Startup Funding Tip

SBA 7A Banks for Saint Peter, Minnesota Loans

Minnesota SBA 7A Lenders