Palatine, IL Entrepreneur Gets SBA Loan to Buy Minuteman Press Franchise

Borrowing money to buy a Minuteman Press franchise? Home St. Bank/natl Association has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Minuteman Press franchise may simply require a phone call to a local SBA banker. In 2001, Home St. Bank/natl Association issued an SBA franchise loan to an entrepreneur in Palatine, Illinois. Because Minuteman Press was registered with the SBA's registry of franchises, this Illinois small business loan was issued on an expedited basis.

SBA Loan Borrower

MINUTEMAN PRESS
PALATINE, IL 60074

SBA Loan Lender

HOME ST. BANK/NATL ASSOCIATION
40 GRANT ST
CRYSTAL LAKE, IL 60014

This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561439 - Business Service Centers

Loan Approval Date

9/21/2001

Loan Approval Gross Amount

$247,500

Loan Approval from the SBA

Of the total $247,500 loan amount, the SBA guaranteed $185,625.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Minuteman Press franchise. At the time of the loan, the company had 3 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.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Minuteman Press International, Inc.

Business Incubators

Who Lends Money to Small Businesses in Crystal Lake, Illinois

SBA Lenders in Illinois