Kleinbank Provides SBA Loan to Buy Mr. Electric Franchise

Need a loan to buy a Mr. Electric franchise? Kleinbank has a history of making these loans and they are guaranteed by the SBA.

Mr. Electric franchise loans are available to Minnetonka, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Kleinbank, based in Waconia, Minnesota, issued an SBA franchise loan for a Mr. Electric franchise in 2005. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

MR ELECTRIC
MINNETONKA, MN 55345

SBA Loan Lender

KLEINBANK
53 W MAIN ST
WACONIA, MN 55387

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.

NAICS Code

238210 - Electrical Contractors and Wiring Installation Contractors

Loan Approval Date

2/10/2005

Loan Approval Gross Amount

$86,450

Loan Approval from the SBA

Of the total $86,450 loan amount, the SBA guaranteed $73,482.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Electric franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the company planned to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

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