Georgia Entrepreneur Secures Financing to Buy Cornwell Quality Tool Company,Inc Franchise

Need a loan to purchase a Cornwell Quality Tool Company,Inc franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

Cornwell Quality Tool Company,Inc franchise loans are available to Villa Rica, Georgia entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Cornwell Quality Tool Company,Inc franchise in 2003. We've got all the details on this Georgia small business loan.

SBA Loan Borrower

K & D MOBILE TOOL SALES,INC
VILLA RICA, GA 30180

SBA Loan Lender

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

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5963 - Direct Selling Establishments

NAICS Code

454390 - Direct Selling Establishments

Loan Approval Date

4/16/2003

Loan Approval Gross Amount

$87,100

Loan Approval from the SBA

Of the total $87,100 loan amount, the SBA guaranteed $74,035.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Stearns Bank and they will explain how you can get an SBA loan for your company.

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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