Bremer Bank Provides SBA Loan to Buy Cousins Submarines restaurant Franchise

Need a loan to buy a Cousins Submarines restaurant franchise? Bremer Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cousins Submarines restaurant franchise shouldn't be too tough. In 2000, Bremer Bank issued an SBA franchise loan to an entrepreneur in Baxter, Minnesota. Because Cousins Submarines restaurant was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

SLM PROPERTIES
BAXTER, MN 56425

SBA Loan Lender

BREMER BANK
321 S 7TH ST
BRAINERD, MN 56401

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

Loan Approval Date

3/14/2000

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $64,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cousins Submarines restaurant franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Bremer Bank and they will explain how you can get an SBA loan for your company.

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.

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