Borrow Money to Buy a Great Steak And Potato Company the Franchise

Need a loan to purchase a Great Steak And Potato Company the franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Great Steak And Potato Company the franchise loans are available to Sandston, Virginia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Great Steak And Potato Company the franchise in 2003. We've got all the details on this Virginia small business loan.

SBA Loan Borrower

GREAT STEAK AND POTATO COMPANY
SANDSTON, VA 23233

SBA Loan Lender

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

The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/13/2003

Loan Approval Gross Amount

$249,200

Loan Approval from the SBA

Of the total $249,200 loan amount, the SBA guaranteed $124,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Great Steak And Potato Company the franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 18 existing jobs.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Stearns Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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.

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