Colorado Entrepreneur Secures Financing to Buy Cornwell Quality Tool Company,Inc Franchise

Borrowing money to purchase a Cornwell Quality Tool Company,Inc franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Cornwell Quality Tool Company,Inc franchise loans are available to Aurora, Colorado entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Cornwell Quality Tool Company,Inc franchise in 2000. We've got all the details on this Colorado small business loan.

SBA Loan Borrower

K. C. TOOLS
AURORA, CO 80012

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5046 - Commercial Equipment

NAICS Code

421440 - Commercial Equipment Wholesalers

Loan Approval Date

6/15/2000

Loan Approval Gross Amount

$58,500

Loan Approval from the SBA

Of the total $58,500 loan amount, the SBA guaranteed $46,800.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 planned to use the funding to add 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.

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.

Related Links:

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SBA Minnesota Lenders