St. Cloud, Minnesota Entrepreneur Gets a Bank Loan

Business loans in Minnesota are are few and far betweeen these days. We take a look at one Minnesota business loan, provided by a Minnesota bank, that was approved by the SBA.

You can learn something about getting a small business loan in St. Cloud, Minnesota by studying this loan to a local business, made back in 2005. Banks like Stearns Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: ADVERTISING AGENCIES
ST. CLOUD, MN 56303

SBA Loan Lender

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

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

541810 - Advertising Agencies

Loan Approval Date

1/27/2005

Loan Approval Gross Amount

$463,000

Loan Approval from the SBA

Of the total $463,000 loan amount, the SBA guaranteed $347,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.

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

If you are working on finding money to start a business in St. Cloud MN, you ought to talk with a local St. Cloud SBA lender or talk with an out-of-area SBA lender that has previously loaned money to St. Cloud businesses.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $463,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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