Minnesota Entrepreneur Secures Financing to Buy Hardee's Restaurant Franchise

Need a loan to purchase a Hardee's Restaurant franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA.

If you live near Marshall, Minnesota and are interested in buying a Hardee's Restaurant franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2002 by Business Loan Center, LLC. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

HAR-MAR FOODS, INC.
MARSHALL, MN 56258

SBA Loan Lender

BUSINESS LOAN CENTER, LLC
121 W. DEWEY , STE. 210
WICHITA, KS 67202

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/1/2002

Loan Approval Gross Amount

$1,100,000

Loan Approval from the SBA

Of the total $1,100,000 loan amount, the SBA guaranteed $825,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Hardee's Restaurant franchise. At the time of the loan, the company had 170 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Business Loan Center, LLC that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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.

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