Saint Paul, MN Entrepreneur Gets SBA Loan to Buy Blimpie Franchise

Borrowing money to purchase a Blimpie franchise? Western Bank has a history of making these loans and they are guaranteed by the SBA.

Blimpie franchise loans are available to Saint Paul, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Western Bank, based in Saint Paul, Minnesota, issued an SBA franchise loan for a Blimpie franchise in 2001. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

BLIMPIE
SAINT PAUL, MN 55104

SBA Loan Lender

WESTERN BANK
663 UNIVERSITY AVE
SAINT PAUL, MN 55104

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.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/10/2001

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $34,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Blimpie franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Western Bank and they will explain how you can get an SBA loan for your company.

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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