Stearns Bank Provides SBA Loan to Buy Papa Murphy's Take & Bake Pizza Franchise

Need a loan to buy a Papa Murphy's Take & Bake Pizza franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Grand Rapids, Minnesota and are interested in buying a Papa Murphy's Take & Bake Pizza franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2005 by Stearns Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

PAPA MURPHY'S
GRAND RAPIDS, MN 55744

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/16/2005

Loan Approval Gross Amount

$180,000

Loan Approval from the SBA

Of the total $180,000 loan amount, the SBA guaranteed $135,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Papa Murphy's Take & Bake Pizza franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the funding would help create 12 new jobs.

Next Steps for Getting an SBA Loan

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

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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