Andover, MN Entrepreneur Gets SBA Loan to Buy Cornwell Quality Tool Company,Inc Franchise

Need a loan to purchase a Cornwell Quality Tool Company,Inc franchise? Community Resource Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Andover, Minnesota and are interested in buying a Cornwell Quality Tool Company,Inc franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Community Resource Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

KEITH KORAN CORNWELL TOOLS
ANDOVER, MN 55304

SBA Loan Lender

COMMUNITY RESOURCE BANK
1501 W CNTY RD 'C'
ROSEVILLE, MN 55113

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332212 - Hand and Edge Tool Manufacturing

Loan Approval Date

8/6/2004

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 an existing business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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