Saint Cloud, Minnesota Bank Gives SBA Loan to Outpatient Mental Health And Substance Abuse Centers Company

Thinking about meeting with a Saint Cloud, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Saint Cloud bank, that was approved by the SBA.

Applying for an SBA loan with St. Stephen State Bank worked out well for our friends at one local company in New Prague, Minnesota. They got an SBA loan for $1,000,000. Nice!

SBA Loan Borrower

COMPANY TYPE: OUTPATIENT MENTAL HEALTH AND SUBSTANCE ABUSE CENTERS
NEW PRAGUE, MN 56071

SBA Loan Lender

ST. STEPHEN STATE BANK
3950 3RD ST NORTH
SAINT CLOUD, MN 56301

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621420 - Outpatient Mental Health and Substance Abuse Centers

Loan Approval Date

7/20/2007

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into St. Stephen State Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

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Small Bank Loans in Saint Cloud, Minnesota

Getting a Business Loan in Minnesota