Minnesota Entrepreneur Secures Financing to Buy Great Earth Vitamin Store Franchise

Need a loan to invest in a Great Earth Vitamin Store franchise? Banco Popular North America has a history of making these loans and they are guaranteed by the SBA.

Great Earth Vitamin Store franchise loans are available to Roseville, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Banco Popular North America, based in Rosemont, Illinois, issued an SBA franchise loan for a Great Earth Vitamin Store franchise in 2006. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

GREAT CLIPS
ROSEVILLE, MN 55118

SBA Loan Lender

BANCO POPULAR NORTH AMERICA
9600 W BRYN MAWR
ROSEMONT, IL 60018

This lender issued this bank loan under the SBA 7A lending 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

812112 - Beauty Salons

Loan Approval Date

10/17/2006

Loan Approval Gross Amount

$1,360,000

Loan Approval from the SBA

Of the total $1,360,000 loan amount, the SBA guaranteed $1,020,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Earth Vitamin Store franchise. At the time of the loan, the company had 80 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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

Related Links:

Business Cash Advances

SBA 7A Lenders in Rosemont, Illinois

SBA Illinois Banks