Boundary Waters Bank Provides SBA Loan to Buy Fantastic Sam's Franchise

Need a loan to buy a Fantastic Sam's franchise? Boundary Waters Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Fantastic Sam's franchise? If so, here's a 2003 SBA franchise loan that you should know about. Boundary Waters Bank was the lender and the entrepreneur was based in Blaine, Minnesota.

SBA Loan Borrower

FANTASTIC SAM'S
BLAINE, MN 55434

SBA Loan Lender

BOUNDARY WATERS BANK
11800 ABERDEEN ST, STE 120
BLAINE, MN 55449

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

7231 - Beauty Shops

NAICS Code

812112 - Beauty Salons

Loan Approval Date

6/3/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Fantastic Sam's franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, feel the fear, and do it anyway.

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:

Fantastic Sams

Business Incubators

Small Business Banks in Blaine, Minnesota

Minnesota SBA 7A Lenders