Owatonna, MN Entrepreneur Gets SBA Loan to Buy UPS Store Franchise

Need a loan to buy an UPS Store franchise? Community Bank Owatonna has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy an UPS Store franchise may simply require a phone call to a local SBA banker. In 2005, Community Bank Owatonna issued an SBA franchise loan to an entrepreneur in Owatonna, Minnesota. Because UPS Store was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

U P S STORE
OWATONNA, MN 55060

SBA Loan Lender

COMMUNITY BANK OWATONNA
640 BRIDGE ST
OWATONNA, MN 55060

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

2/14/2005

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $50,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy an UPS Store franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

We can help you find the best banks for small businesses in Owatonna or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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