St. Stephen State Bank SBA Loan to Trucking Company

St. Stephen State Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sauk Rapids, Minnesota was able to borrow $86,600 from St. Stephen State Bank. The SBA made the loan possible by guaranteeing $73,610 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: TRUCKING
SAUK RAPIDS, MN 56379

SBA Loan Lender

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

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4213 - Trucking

NAICS Code

484121 - General Long-Distance Freight Trucking

Loan Approval Date

5/8/2003

Loan Approval Gross Amount

$86,600

Loan Approval from the SBA

Of the total $86,600 loan amount, the SBA guaranteed $73,610.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $86,600 loan. Remember, fight for what you want, and it will be yours!

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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