Loan to Buy Erbert & Gerbert's Subs & Clubs Franchise Issued By First National Bank Minnesota

Need 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.

Want to borrow money to buy an Erbert & Gerbert's Subs & Clubs franchise? If so, here's a 2003 SBA franchise loan that you should know about. First National Bank Minnesota was the lender and the entrepreneur was based in Rochester, Minnesota.

SBA Loan Borrower

DETT RESTAURANT GROUP,INC
ROCHESTER, MN 55901

SBA Loan Lender

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

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

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

6/17/2003

Loan Approval Gross Amount

$146,000

Loan Approval from the SBA

Of the total $146,000 loan amount, the SBA guaranteed $124,100.

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 20 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank Minnesota so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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Erbert & Gerbert's Subs & Clubs

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