Loan to Buy Pickerman's Franchise Issued By Anchor Bank Saint Paul

Need money to buy a Pickerman's franchise? Anchor Bank Saint Paul has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Pickerman's franchise? If so, here's a 2000 SBA franchise loan that you should know about. Anchor Bank Saint Paul was the lender and the entrepreneur was based in Saint Paul, Minnesota.

SBA Loan Borrower

PICKERMANS SOUP AND SANDWICH
SAINT PAUL, MN 55102

SBA Loan Lender

ANCHOR BANK SAINT PAUL
1570 CONCORDIA 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

11/30/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $80,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Pickerman's franchise. At the time of the loan, the company had 6 employees. The loan application did not indicate that the small business promised to use the money to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Advice on Getting a Small Business Loan

Good Banks for Small Business in Saint Paul, Minnesota

Minnesota SBA Bank Lenders