First National Bank Minnesota Provides SBA Loan to Buy Erbert & Gerbert's Subs & Clubs Franchise

Borrowing money to purchase an Erbert & Gerbert's Subs & Clubs franchise? First National Bank Minnesota has a history of making these loans and they are guaranteed by the SBA.

Erbert & Gerbert's Subs & Clubs franchise loans are available to Northfield, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, First National Bank Minnesota, based in Saint Peter, Minnesota, issued an SBA franchise loan for an Erbert & Gerbert's Subs & Clubs franchise in 2004. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

ERBERT & GERBERTS SUBS AND CLU
NORTHFIELD, MN 55057

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/4/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Erbert & Gerbert's Subs & Clubs franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like First National Bank Minnesota and they will explain how you can get an SBA loan for your company.

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:

Erbert & Gerbert's Subs & Clubs

Obtaining Funding - How to Decide How Much to Raise

Best Saint Peter, Minnesota Banks for Small Business

SBA Lenders in Minnesota