Home Federal Savings Bank Provides SBA Loan to Buy Fantastic Sam's Franchise

Need money to buy a Fantastic Sam's franchise? Home Federal Savings Bank has a history of making these loans and they are guaranteed by the SBA.

Fantastic Sam's franchise loans are available to Victoria, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Home Federal Savings Bank, based in Rochester, Minnesota, issued an SBA franchise loan for a Fantastic Sam's franchise in 2005. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

TBD
VICTORIA, MN 55386

SBA Loan Lender

HOME FEDERAL SAVINGS BANK
1016 CIVIC CENTER DR
ROCHESTER, MN 55901

This lender issued this commercial loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

812112 - Beauty Salons

Loan Approval Date

9/19/2005

Loan Approval Gross Amount

$328,500

Loan Approval from the SBA

Of the total $328,500 loan amount, the SBA guaranteed $246,375.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 21 employees. The SBA loan documents did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

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Good Banks for Small Business in Rochester, Minnesota

Getting an SBA Loan in Minnesota