Sioux Falls, SD Entrepreneur Gets SBA Loan to Buy Spicy Pickle Franchise

Need money to invest in a Spicy Pickle franchise? Great Western Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Sioux Falls, South Dakota and are interested in buying a Spicy Pickle franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2006 by Great Western Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

SPICY PICKLE
SIOUX FALLS, SD 57105

SBA Loan Lender

GREAT WESTERN BANK
200 E 10TH ST
SIOUX FALLS, SD 57104

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

2/15/2006

Loan Approval Gross Amount

$360,000

Loan Approval from the SBA

Of the total $360,000 loan amount, the SBA guaranteed $270,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Spicy Pickle franchise. At the time of the loan, the company had 5 employees. The loan application did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Great Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Spicy Pickle Franchising, LLC

Obtaining Funding - How to Borrow Money

Small Business Banks in Sioux Falls, South Dakota

South Dakota SBA Bank Lenders