Loan to Buy Figaro's Italian Pizza Franchise Issued By Kleinbank

Borrowing money to buy a Figaro's Italian Pizza franchise? Kleinbank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Figaro's Italian Pizza franchise requires some effort but others before you have been successful. In 2005, Kleinbank issued an SBA franchise loan to an entrepreneur in Princeton, Minnesota. Because Figaro's Italian Pizza was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

FIGARO'S PIZZA
PRINCETON, MN 55371

SBA Loan Lender

KLEINBANK
611 ROSE DR
BIG LAKE, MN 55318

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

722110 - Full-Service Restaurants

Loan Approval Date

5/13/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Figaro's Italian Pizza franchise. At the time of the loan, the company had 12 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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:

Figaro's Italian Pizza, Inc.

Attracting Investors

Small Business Banks in Big Lake, Minnesota

Getting an SBA Loan in Minnesota