Farmers & Merchants St. Bank - P Provides SBA Loan to Buy Radio Shack Franchise

Need money to invest in a Radio Shack franchise? Farmers & Merchants St. Bank - P has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Radio Shack franchise may simply require a phone call to a local SBA banker. In 2004, Farmers & Merchants St. Bank - P issued an SBA franchise loan to an entrepreneur in Pierz, Minnesota. Because Radio Shack was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

DESIGN ELECTRONICS RADIO SHACK
PIERZ, MN 56364

SBA Loan Lender

FARMERS & MERCHANTS ST. BANK - P
80 MAIN ST
PIERZ, MN 56364

The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

443112 - Radio, Television, and Electronics Stores

Loan Approval Date

4/6/2004

Loan Approval Gross Amount

$215,000

Loan Approval from the SBA

Of the total $215,000 loan amount, the SBA guaranteed $107,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Radio Shack franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Farmers & Merchants St. Bank - P are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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