Loan to Buy Certa Propainters Franchise Issued By Merchants Bank

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

An entrepreneur in Eagan, Minnesota needed money to invest in a Certa Propainters franchise back in 2006. Merchants Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

CERTA PRO PAINTING
EAGAN, MN 55122

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

1/31/2006

Loan Approval Gross Amount

$142,000

Loan Approval from the SBA

Of the total $142,000 loan amount, the SBA guaranteed $71,000.

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. This SBA loan request indicated that the loan would help generate 21 new jobs and retain 24 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This SBA loan was for $142,000. How would you spend $142,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

CertaPro Painters

Equity Financing

SBA Banks in Hampton, Minnesota

Getting an SBA Loan in Minnesota