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November 15, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Great Wraps Loan | ||||
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How Much Does It Cost to Buy a Franchise in Virginia Beach, Virginia?
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Borrow Money to Buy a Great Wraps FranchiseBorrowing money to buy a Great Wraps franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. Great Wraps franchise loans are available to Virginia Beach, Virginia 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 Great Wraps franchise in 2005. We've got all the details on this Virginia small business loan. SBA Loan Borrower GREAT WRAPS SBA Loan Lender STEARNS BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/15/2005 Loan Approval Gross Amount $185,000 Loan Approval from the SBA Of the total $185,000 loan amount, the SBA guaranteed $138,750. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Great Wraps franchise. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small 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 $185,000 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. Related Links: Obtaining Funding - Friends and Family SBA Approved Banks in Saint Cloud, Minnesota
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