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December 24, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Hotels And Motels Loan | ||||
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Baudette SBA Loans
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Stearns Bank Gives Business Loan to Hotels And Motels CompanyMinnesotaBank loans are available to Minnesota firms through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to Stearns Bank, this Baudette, Minnesota business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS 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 721110 - Hotels and Motels Loan Approval Date 5/15/2002 Loan Approval Gross Amount $216,000 Loan Approval from the SBA Of the total $216,000 loan amount, the SBA guaranteed $162,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 2 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source We can help you find the best banks for small businesses in Baudette or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Advice on Getting a Small Business Loan Find an SBA Lender in Saint Cloud, Minnesota Find an SBA Lender in Minnesota
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