Colorado Entrepreneur Secures Financing to Buy Silver Mine Subs Franchise

Need money to invest in a Silver Mine Subs franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Silver Mine Subs franchise is doable. In 2006, Stearns Bank issued an SBA franchise loan to an entrepreneur in Ft Collins, Colorado. Because Silver Mine Subs was registered with the SBA's registry of franchises, this Colorado small business loan was issued on an expedited basis.

SBA Loan Borrower

SILVER MINE SUBS
FT COLLINS, CO 80521

SBA Loan Lender

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

This lender issued this commercial loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 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

722211 - Limited-Service Restaurants

Loan Approval Date

4/11/2006

Loan Approval Gross Amount

$141,500

Loan Approval from the SBA

Of the total $141,500 loan amount, the SBA guaranteed $120,275.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Silver Mine Subs franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Silver Mine Subs

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SBA 7A Banks in Saint Cloud, Minnesota

Minnesota SBA Banks