Get an SBA Loan for Perishable Prepared Food Manufacturing

Looking for small business loans for perishable prepared food manufacturing? An SBA loan may be just what you've been looking for. This $169,500 perishable prepared food manufacturing loan was issued by a Minnesota bank.

Getting a small business loan in Torrance, California was important for this growing firm back in 2007 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 California small business loan.

SBA Loan Borrower

COMPANY TYPE: PERISHABLE PREPARED FOOD MANUFACTURING
TORRANCE, CA 90505

SBA Loan Lender

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

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311991 - Perishable Prepared Food Manufacturing

Loan Approval Date

2/15/2007

Loan Approval Gross Amount

$169,500

Loan Approval from the SBA

Of the total $169,500 loan amount, the SBA guaranteed $127,125.

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 3 new jobs and retain 1 existing job.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to raise money for a business in Torrance CA, you ought to talk with a local Torrance SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Torrance businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

The Art of Bootstrapping

Good Banks for Small Business in Saint Cloud, Minnesota

Minnesota SBA Banks