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April 28, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hutchinson, Business Loans > Citizens Bank & Trust Hutchinson Business Loans > Curves Loan | ||||
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New Ulm, Minnesota Bank Loan
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Borrow Money to Buy a Curves For Women FranchiseNeed a loan to buy a Curves For Women franchise? Citizens Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Curves For Women franchise loans are available to New Ulm, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Citizens Bank & Trust, based in Hutchinson, Minnesota, issued an SBA franchise loan for a Curves For Women franchise in 2003. We've got all the details on this Minnesota small business loan. SBA Loan Borrower CURVES SBA Loan Lender CITIZENS BANK & TRUST This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 713940 - Fitness and Recreational Sports Centers Loan Approval Date 11/17/2003 Loan Approval Gross Amount $60,000 Loan Approval from the SBA Of the total $60,000 loan amount, the SBA guaranteed $51,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Curves For Women franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: SBA Participating Banks in Hutchinson, Minnesota
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