Minnesota Entrepreneur Secures Financing to Buy Flowerama Franchise

Borrowing money to buy a Flowerama franchise? Anchor Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Woodbury, Minnesota and are interested in buying a Flowerama franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Anchor Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

FLOWERAMA
WOODBURY, MN 55125

SBA Loan Lender

ANCHOR BANK
1055 E WAYZATA BLVD EAST
WAYZATA, MN 55391

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453110 - Florists

Loan Approval Date

5/19/2005

Loan Approval Gross Amount

$200,800

Loan Approval from the SBA

Of the total $200,800 loan amount, the SBA guaranteed $150,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Flowerama franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $200,800 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Flowerama of America, Inc.

Role of Business Plan When Raising Money

SBA 7A Banks in Wayzata, Minnesota

SBA Minnesota Lenders