Stearns Bank SBA Loan to Cut Stone And Stone Product Manufacturing Company

Stearns Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Colorado entrepreneur who tapped into the power of SBA loans.

This business knew how to go about getting a business bank loan. Based in Egnar, Colorado, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Stearns Bank, based in Saint Cloud, Minnesota.

SBA Loan Borrower

COMPANY TYPE: CUT STONE AND STONE PRODUCT MANUFACTURING
EGNAR, CO 81352

SBA Loan Lender

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

This lender issued this particular SBA business 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.

NAICS Code

327991 - Cut Stone and Stone Product Manufacturing

Loan Approval Date

11/18/2004

Loan Approval Gross Amount

$103,600

Loan Approval from the SBA

Of the total $103,600 loan amount, the SBA guaranteed $88,060.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This SBA loan was for $103,600. How would you spend $103,600 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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