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May 4, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Park Midway Bank Saint Paul Business Loans > Cartridge World Loan | ||||
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Banks for Inver Grove Heights (rr Name I, Minnesota Small Business Owners
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Park Midway Bank Provides SBA Loan to Buy Cartridge World Stores FranchiseBorrowing money to buy a Cartridge World Stores franchise? Park Midway Bank has a history of making these loans and they are guaranteed by the SBA. Cartridge World Stores franchise loans are available to Inver Grove Heights (rr Name I, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Park Midway Bank, based in Saint Paul, Minnesota, issued an SBA franchise loan for a Cartridge World Stores franchise in 2006. We've got all the details on this Minnesota small business loan. SBA Loan Borrower CARTRIDGE WORLD SBA Loan Lender PARK MIDWAY 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 561110 - Office Administrative Services Loan Approval Date 12/6/2006 Loan Approval Gross Amount $132,300 Loan Approval from the SBA Of the total $132,300 loan amount, the SBA guaranteed $112,455. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cartridge World Stores franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. 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 Park Midway 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: Small Business Banks in Saint Paul, Minnesota
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