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April 29, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Bremer Bank Saint Cloud Business Loans > Famous Daves Loan | ||||
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Baxter, Minnesota Bank Loan
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Baxter, MN Entrepreneur Gets SBA Loan to Buy Famous Dave's FranchiseNeed money to purchase a Famous Dave's franchise? Bremer Bank has a history of making these loans and they are guaranteed by the SBA. Famous Dave's franchise loans are available to Baxter, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Bremer Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Famous Dave's franchise in 2005. We've got all the details on this Minnesota small business loan. SBA Loan Borrower FAMOUS DAVES SBA Loan Lender BREMER BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/13/2005 Loan Approval Gross Amount $440,000 Loan Approval from the SBA Of the total $440,000 loan amount, the SBA guaranteed $330,000. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Famous Dave's franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help create 80 new jobs. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Bremer Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Obtaining Funding - Getting Venture Capital SBA 7A Lenders in Saint Cloud, Minnesota Browse All Business Loan Sources for Minnesota
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