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November 22, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Limited-Service Restaurants Loan | ||||
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Saint Cloud SBA Lenders
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Saint Cloud, Minnesota Bank Gives SBA Loan to Limited-Service Restaurants CompanyA Saint Cloud, Minnesota small business loan can be yours. Learn how one firm got a $368,700 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Stearns Bank made the loan and the SBA guaranteed a portion of the loan. Many other Virginia entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender STEARNS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 2/27/2007 Loan Approval Gross Amount $368,700 Loan Approval from the SBA Of the total $368,700 loan amount, the SBA guaranteed $276,525. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. This SBA loan request indicated that the funding would help generate 12 new jobs. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. 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. Related Links: Who Lends Money to Small Businesses in Saint Cloud, Minnesota Getting an SBA Loan in Minnesota
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