Beltsville Heights, MD Entrepreneur Gets SBA Loan to Buy The UPS Store Franchise

Borrowing money to purchase a UPS Store franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near Beltsville Heights, Maryland and are interested in buying a The UPS Store franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by Stearns Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

UPS STORE (SALINKS ENTERPRISES
BELTSVILLE HEIGHTS, MD 20705

SBA Loan Lender

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

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

561431 - Private Mail Centers

Loan Approval Date

12/22/2003

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 a new business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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:

The UPS Store

Obtaining Funding - How to Decide How Much to Raise

Best Saint Cloud, Minnesota Banks for Small Business

Minnesota SBA 7A Lenders