Stearns Bank SBA Loan to Full-Service Restaurants Company
Stearns Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Minnesota entrepreneur was able to get a loan to take a small business to the next level.
Getting a small business loan in St. Cloud, Minnesota was an essential business goal for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Stearns Bank, operating out of Saint Cloud, Minnesota. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
ST. CLOUD, MN 56301
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
722110 - Full-Service Restaurants
Loan Approval Date
11/9/2000
Loan Approval Gross Amount
$232,300
Loan Approval from the SBA
Of the total $232,300 loan amount, the SBA guaranteed $174,225.
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 25 employees. This SBA loan request indicated that the loan would help retain 25 existing jobs.
Start the Process for Getting an SBA Loan Today!
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you need money to buy a business? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.
Related Links:
Bank Credit Lines
SBA Approved Banks in Saint Cloud, Minnesota
Where to Get an SBA Loan Minnesota