Montgomery Bank Provides SBA Loan to Buy Minuteman Press Franchise

Borrowing money to invest in a Minuteman Press franchise? Montgomery Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Minuteman Press franchise shouldn't be too tough. In 2007, Montgomery Bank issued an SBA franchise loan to an entrepreneur in St. Louis, Missouri. Because Minuteman Press was registered with the SBA's registry of franchises, this Missouri small business loan was issued on an expedited basis.

SBA Loan Borrower

MINUTEMAN PRESS
ST. LOUIS, MO 63123

SBA Loan Lender

MONTGOMERY BANK
1 MONTGOMERY BANK PLZ
SIKESTON, MO 63801

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

323110 - Commercial Lithographic Printing

Loan Approval Date

1/5/2007

Loan Approval Gross Amount

$42,300

Loan Approval from the SBA

Of the total $42,300 loan amount, the SBA guaranteed $21,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Minuteman Press franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your 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.

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:

Minuteman Press International, Inc.

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SBA Approved Banks in Sikeston, Missouri

Getting a Business Loan in Missouri