Business Loan from Stearns Bank Given to Snack And Nonalcoholic Beverage Bars Company

An SBA loan from Stearns Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Braintree, Massachusetts business owner got a $355,900 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Braintree, Massachusetts was able to borrow $355,900 from Stearns Bank. The SBA made the loan possible by guaranteeing $266,925 of this Massachusetts small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
BRAINTREE, MA 02184

SBA Loan Lender

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

This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

4/27/2007

Loan Approval Gross Amount

$355,900

Loan Approval from the SBA

Of the total $355,900 loan amount, the SBA guaranteed $266,925.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The loan application indicated that the loan would help generate 2 new jobs and retain 5 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Braintree 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.

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