Saint Paul, MN Entrepreneur Gets SBA Loan to Buy Pearle Vision Center Franchise

Need money to purchase a Pearle Vision Center franchise? Wells Fargo Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Pearle Vision Center franchise may simply require a phone call to a local SBA banker. In 2007, Wells Fargo Bank issued an SBA franchise loan to an entrepreneur in Saint Paul, Minnesota. Because Pearle Vision Center was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

PEARLE VISION
Saint Paul, MN 55116

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

446130 - Optical Goods Stores

Loan Approval Date

9/24/2007

Loan Approval Gross Amount

$760,000

Loan Approval from the SBA

Of the total $760,000 loan amount, the SBA guaranteed $570,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Pearle Vision Center franchise. At the time of the loan, the company had 8 employees. The SBA loan documents indicated that the loan would help retain 8 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, 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:

Pearle Vision

Alternative Financing

SBA Participating Banks in Sioux Falls, South Dakota

Browse All Business Loan Sources for South Dakota