First Premier Bank Provides SBA Loan to Buy Juice Stop Franchise

Need a loan to purchase a Juice Stop franchise? First Premier Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Sioux Falls, South Dakota and are interested in buying a Juice Stop franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by First Premier Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

JUICE STOP
SIOUX FALLS, SD 57103

SBA Loan Lender

FIRST PREMIER BANK
601 S MINNESOTA AVE
SIOUX FALLS, SD 57104

This lender issued this particular debt financing 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.

NAICS Code

424420 - Packaged Frozen Food Merchant Wholesalers

Loan Approval Date

2/6/2004

Loan Approval Gross Amount

$140,000

Loan Approval from the SBA

Of the total $140,000 loan amount, the SBA guaranteed $119,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Juice Stop franchise. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the small business planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Sioux Falls SD, you ought to talk with a local Sioux Falls SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Sioux Falls businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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 Line of Credit

Small Bank Loans in Sioux Falls, South Dakota

Find an SBA Lender in South Dakota