Minnesota Entrepreneur Secures Financing to Buy Aussie Pet Mobile Villa Park Franchise

Borrowing money to buy an Aussie Pet Mobile Villa Park franchise? Western Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Aussie Pet Mobile Villa Park franchise? If so, here's a 2003 SBA franchise loan that you should know about. Western Bank was the lender and the entrepreneur was based in Prior Lake, Minnesota.

SBA Loan Borrower

AUSSIE PET MOBILE SOUTHWEST ME
PRIOR LAKE, MN 55372

SBA Loan Lender

WESTERN BANK
4700 W 77TH ST, STE 160
EDINA, MN 55435

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5999 - Retail Stores

NAICS Code

453910 - Pet and Pet Supplies Stores

Loan Approval Date

4/10/2003

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 an Aussie Pet Mobile Villa Park franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Microlending as a Small Business Funding Source

Where to Get an SBA Loan in Edina, Minnesota

SBA Minnesota Banks