Business Loan from Stearns Bank Given to Professional Equipment And Supplies 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 Dundee, Florida business owner got a $56,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Dundee, Florida was able to borrow $56,500 from Stearns Bank. The SBA made the loan possible by guaranteeing $45,200 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES
DUNDEE, FL 33838

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5049 - Professional Equipment and Supplies

Loan Approval Date

3/30/2000

Loan Approval Gross Amount

$56,500

Loan Approval from the SBA

Of the total $56,500 loan amount, the SBA guaranteed $45,200.

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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

If you need business start up money in Dundee FL, you ought to talk with a local Dundee SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Dundee businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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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Minnesota SBA 7A Lenders