Saint Cloud, Minnesota Bank Gives SBA Loan to Full-Service Restaurants Company

Thinking about meeting with a Saint Cloud, Minnesota bank about a small business loan? Here's one New York business loan, issued by a Saint Cloud bank, that was approved by the SBA.

Applying for an SBA loan with Stearns Bank worked out well for our friends at one local company in Syracuse, New York. The business was able to get an SBA loan for $427,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SYRACUSE, NY 13209

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

12/21/2007

Loan Approval Gross Amount

$427,000

Loan Approval from the SBA

Of the total $427,000 loan amount, the SBA guaranteed $320,250.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help generate 106 new jobs and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

If you need business start up money in Syracuse NY, you ought to talk with a local Syracuse SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Syracuse businesses.

This SBA loan was for $427,000. How would you spend $427,000 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 Loan

Banks in Saint Cloud, Minnesota

SBA Participating Banks in Minnesota