Minnesota Entrepreneur Secures Financing to Buy Embers America Franchise

Need a loan to buy an Embers America franchise? Associated Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an Embers America franchise is doable. In 2000, Associated Bank issued an SBA franchise loan to an entrepreneur in New Hope, Minnesota. Because Embers America was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

EMERALD'S EMBERS AMERICA
NEW HOPE, MN 55428

SBA Loan Lender

ASSOCIATED BANK
740 MARQUETTE AVE
MINNEAPOLIS, MN 55402

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

6/12/2000

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $87,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Embers America franchise. At the time of the loan, the company had 35 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 37 existing jobs.

Next Steps for Getting an SBA Loan

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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Associated Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Associated Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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