Minnesota Entrepreneur Secures Financing to Buy Certa Propainters Franchise

Need money to invest in a Certa Propainters franchise? Merchants Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Certa Propainters franchise is doable. In 2006, Merchants Bank issued an SBA franchise loan to an entrepreneur in Burnsville, Minnesota. Because Certa Propainters was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

CERTA PRO PAINTING
BURNSVILLE, MN 55337

SBA Loan Lender

MERCHANTS BANK
23280 MAIN ST
HAMPTON, MN 55031

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

238320 - Painting and Wall Covering Contractors

Loan Approval Date

12/28/2006

Loan Approval Gross Amount

$95,000

Loan Approval from the SBA

Of the total $95,000 loan amount, the SBA guaranteed $47,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Certa Propainters franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 21 new jobs and retain 24 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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