SBA Loan from Stearns Bank Helps Full-Service Restaurants Company

An SBA loan from Stearns Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Navarre, Florida business owner got a $197,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Stearns Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $197,000 to help grow their Navarre, Florida business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
NAVARRE, FL 32566

SBA Loan Lender

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

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/29/2007

Loan Approval Gross Amount

$197,000

Loan Approval from the SBA

Of the total $197,000 loan amount, the SBA guaranteed $147,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 25 employees. The loan application indicated that the loan would help generate 24 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Stearns Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Obtaining Funding - Friends and Family

Small Business Banks in Saint Cloud, Minnesota

Getting a Business Loan in Minnesota