Anchor Bank Heritage Provides SBA Loan to Buy Flowerama Franchise

Need a loan to invest in a Flowerama franchise? Anchor Bank Heritage has a history of making these loans and they are guaranteed by the SBA.

Flowerama franchise loans are available to Saint Paul, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Anchor Bank Heritage, based in North Saint Paul, Minnesota, issued an SBA franchise loan for a Flowerama franchise in 2001. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

TIMMERMAN ENTERPRISES
SAINT PAUL, MN 55114

SBA Loan Lender

ANCHOR BANK HERITAGE
2700 E 7TH AVE
NORTH SAINT PAUL, MN 55109

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5992 - Florists

NAICS Code

453110 - Florists

Loan Approval Date

5/1/2001

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 a Flowerama franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower did not indicate that the business planned to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

Related Links:

Flowerama of America, Inc.

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in North Saint Paul, Minnesota

Browse All Business Loan Sources for Minnesota