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April 25, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Fargo, Business Loans > State Bank & Trust Fargo Business Loans > Play It Again Sports Loan | ||||
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I Need a Small Business Loan to Buy a Franchise in Fargo, North Dakota
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Borrow Money to Buy a Play It Again Sports retail Sports FranchiseNeed money to invest in a Play It Again Sports retail Sports franchise? State Bank & Trust has a history of making these loans and they are guaranteed by the SBA. Getting money to buy a Play It Again Sports retail Sports franchise requires some effort but others before you have been successful. In 2006, State Bank & Trust issued an SBA franchise loan to an entrepreneur in Fargo, North Dakota. Because Play It Again Sports retail Sports was registered with the SBA's registry of franchises, this North Dakota small business loan was issued on an expedited basis. SBA Loan Borrower PLAY IT AGAIN SPORTS SBA Loan Lender STATE BANK & TRUST The lender provided this commercial 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 451110 - Sporting Goods Stores Loan Approval Date 5/31/2006 Loan Approval Gross Amount $40,000 Loan Approval from the SBA Of the total $40,000 loan amount, the SBA guaranteed $20,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Play It Again Sports retail Sports franchise. At the time of the loan, the company had 10 employees. The loan application indicated that the loan would help retain 10 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Find an SBA Lender in Fargo, North Dakota
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