Maplewood, MN Entrepreneur Gets SBA Loan to Buy Milio's Sandwiches Franchise

Borrowing money to invest in a Milio's Sandwiches franchise? First National Bank Minnesota has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Milio's Sandwiches franchise may simply require a phone call to a local SBA banker. In 2005, First National Bank Minnesota issued an SBA franchise loan to an entrepreneur in Maplewood, Minnesota. Because Milio's Sandwiches was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

MILIO'S SANDWICHES
MAPLEWOOD, MN 55119

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
226 NASSAU ST
SAINT PETER, MN 56082

This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/4/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Milio's Sandwiches franchise. At the time of the loan, the company had only one employee. The SBA loan documents indicated that the loan would help create 14 new jobs.

Getting an SBA Loan For Your Business

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank Minnesota are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

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Small Business Banks in Saint Peter, Minnesota

Minnesota SBA Bank Lenders