Melville, NY Entrepreneur Gets SBA Loan to Buy The Intelligent Office Franchise

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

Getting money to buy a The Intelligent Office franchise shouldn't be too tough. In 2006, Stearns Bank issued an SBA franchise loan to an entrepreneur in Melville, New York. Because The Intelligent Office was registered with the SBA's registry of franchises, this New York small business loan was issued on an expedited basis.

SBA Loan Borrower

THE INTELLIGENT OFFICE
MELVILLE, NY 11747

SBA Loan Lender

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

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561110 - Office Administrative Services

Loan Approval Date

4/19/2006

Loan Approval Gross Amount

$378,000

Loan Approval from the SBA

Of the total $378,000 loan amount, the SBA guaranteed $283,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a The Intelligent Office franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

This SBA loan was for $378,000. How would you spend $378,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

The Intelligent Office

Role of Business Plan When Raising Money

SBA Approved Banks in Saint Cloud, Minnesota

SBA Participating Banks in Minnesota