Stearns Bank Provides SBA Loan to Buy Instant Imprints Franchise

Need a loan to buy an Instant Imprints franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Instant Imprints franchise loans are available to Fayetteville, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for an Instant Imprints franchise in 2004. We've got all the details on this North Carolina small business loan.

SBA Loan Borrower

CAPE FEAR CARTRIDGES, INC.
FAYETTEVILLE, NC 28314

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421840 - Industrial Supplies Wholesalers

Loan Approval Date

10/20/2004

Loan Approval Gross Amount

$105,000

Loan Approval from the SBA

Of the total $105,000 loan amount, the SBA guaranteed $89,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy an Instant Imprints franchise. At the time of the loan, the company had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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.

Related Links:

Instant Imprints

Startup Funding Tip

Best Saint Cloud, Minnesota Banks for Small Business

Minnesota SBA 7A Lenders