Stearns Bank Provides SBA Loan to Buy Cornwell Quality Tool Company,Inc Franchise

Borrowing money to buy a Cornwell Quality Tool Company,Inc franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Cornwell Quality Tool Company,Inc franchise requires some effort but others before you have been successful. In 2002, Stearns Bank issued an SBA franchise loan to an entrepreneur in Grand Prairie, Texas. Because Cornwell Quality Tool Company,Inc was registered with the SBA's registry of franchises, this Texas small business loan was issued on an expedited basis.

SBA Loan Borrower

CORNWELL TOOLS
GRAND PRAIRIE, TX 75052

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

2/28/2002

Loan Approval Gross Amount

$75,200

Loan Approval from the SBA

Of the total $75,200 loan amount, the SBA guaranteed $63,920.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The loan application did not indicate that the company planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Grand Prairie TX, you ought to talk with a local Grand Prairie SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Grand Prairie businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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