New Town, ND Entrepreneur Gets SBA Loan to Buy Ben Franklin Store Franchise

Need a loan to invest in a Ben Franklin Store franchise? Lakeside State Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near New Town, North Dakota and are interested in buying a Ben Franklin Store franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2000 by Lakeside State Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

BRATVOLD VARIETY, INC.
NEW TOWN, ND 58763

SBA Loan Lender

LAKESIDE STATE BANK
323 S MAIN ST
NEW TOWN, ND 58763

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

5/3/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Ben Franklin Store franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in New Town ND, you ought to talk with a local New Town SBA lender or talk with an out-of-area SBA lender that has previously loaned money to New Town businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Lakeside State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Small Business Banks in New Town, North Dakota

North Dakota SBA 7A Lenders