Stearns Bank Provides SBA Loan to Buy Mr. Goodcents Sub' And Pasta Franchise

Need money to buy a Mr. Goodcents Sub' And Pasta franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

If you live near High Ridge, Missouri and are interested in buying a Mr. Goodcents Sub' And Pasta franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Stearns Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase.

SBA Loan Borrower

MR. GOODCENTS SUBS & PASTA
HIGH RIDGE, MO 63049

SBA Loan Lender

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

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/23/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Mr. Goodcents Sub' And Pasta franchise. At the time of the loan, the company had 15 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.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.

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.

Related Links:

Mr. Goodcents Subs & Pastas

Role of Business Plan When Raising Money

SBA 7A Banks for Saint Cloud, Minnesota Loans

Getting a Business Loan in Minnesota