Elgin, IL Entrepreneur Gets SBA Loan to Buy Alphagrafics, Printshops Of The Futu Franchise

Need money to purchase an Alphagrafics, Printshops Of The Futu franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy an Alphagrafics, Printshops Of The Futu franchise? If so, here's a 2005 SBA franchise loan that you should know about. Stearns Bank was the lender and the entrepreneur was based in Elgin, Illinois.

SBA Loan Borrower

ALPHAGRAPHICS 575
ELGIN, IL 60123

SBA Loan Lender

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

This lender issued this bank loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

323114 - Quick Printing

Loan Approval Date

3/17/2005

Loan Approval Gross Amount

$369,000

Loan Approval from the SBA

Of the total $369,000 loan amount, the SBA guaranteed $276,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Alphagrafics, Printshops Of The Futu franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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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