Hometown Bank Provides SBA Loan to Buy Abc Seamless Franchise

Need a loan to invest in an Abc Seamless franchise? Hometown Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Redwood Falls, Minnesota and are interested in buying an Abc Seamless franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Hometown Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

ABC SEAMLESS OF REDWOOD FALLS
REDWOOD FALLS, MN 56283

SBA Loan Lender

HOMETOWN BANK
1000 COOK ST
REDWOOD FALLS, MN 56283

This lender issued this particular SBA 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

1761 - Roofing, Siding, and Sheet Metal Work

NAICS Code

235610 - Roofing, Siding, and Sheet Metal Contractors

Loan Approval Date

1/31/2003

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an Abc Seamless franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Hometown Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Hometown 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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