Loan to Buy Mrs. Field's Cookies Franchise Issued By Stearns Bank

Need a loan to purchase a Mrs. Field's Cookies franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Mrs. Field's Cookies franchise may simply require a phone call to a local SBA banker. In 2001, Stearns Bank issued an SBA franchise loan to an entrepreneur in Albertville, Minnesota. Because Mrs. Field's Cookies was registered with the SBA's registry of franchises, this Minnesota small business loan was issued on an expedited basis.

SBA Loan Borrower

RAC ENTERPRISES LLC
ALBERTVILLE, MN 55301

SBA Loan Lender

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

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

8/29/2001

Loan Approval Gross Amount

$283,000

Loan Approval from the SBA

Of the total $283,000 loan amount, the SBA guaranteed $212,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mrs. Field's Cookies franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 10 new jobs.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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