Rice, Minnesota Business Gets SBA-Guaranteed Funding from St. Stephen State Bank

An SBA loan from St. Stephen State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Rice, Minnesota business owner got a $112,500 loan.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Rice, Minnesota was able to borrow $112,500 from St. Stephen State Bank. The SBA made the loan possible by guaranteeing $84,375 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
RICE, MN 56367

SBA Loan Lender

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

This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

12/19/2000

Loan Approval Gross Amount

$112,500

Loan Approval from the SBA

Of the total $112,500 loan amount, the SBA guaranteed $84,375.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

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

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

This SBA loan was for $112,500. How would you spend $112,500 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:

Small Business Credit Cards

Small Business Banks in Saint Cloud, Minnesota

SBA Lenders in Minnesota