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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > St. Stephen State Bank Saint Cloud Business Loans > Office Machinery Manufacturing Loan | ||||
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Minnesota SBA 7A Lenders
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Entrepreneur Works With Saint Cloud, Minnesota Bank to Get an SBA LoanA Saint Cloud, Minnesota business loan can be yours. Learn how a business got a $606,000 business loan from this Minnesota bank. This loan to an entrepreneur is a good example of an SBA loan. St. Stephen State Bank made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: OFFICE MACHINERY MANUFACTURING SBA Loan Lender ST. STEPHEN STATE BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 333313 - Office Machinery Manufacturing Loan Approval Date 8/17/2005 Loan Approval Gross Amount $606,000 Loan Approval from the SBA Of the total $606,000 loan amount, the SBA guaranteed $454,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA Approved Banks in Saint Cloud, Minnesota
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