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May 4, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Concrete Work Loan | ||||
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Advice for Business Owners On Getting a Loan
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Financing for Concrete ContractorsLooking for commercial loans for concrete contractors? Talk to a banker who works with the SBA. This $55,000 concrete contractors loan was issued by a Minnesota bank. This small business knew how to go about getting a business bank loan. Based in Arcanum, Ohio, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Stearns Bank, based in Saint Cloud, Minnesota. SBA Loan Borrower COMPANY TYPE: CONCRETE WORK SBA Loan Lender STEARNS BANK This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1771 - Concrete Work NAICS Code 235710 - Concrete Contractors Loan Approval Date 5/17/2002 Loan Approval Gross Amount $55,000 Loan Approval from the SBA Of the total $55,000 loan amount, the SBA guaranteed $46,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 7A Banks for Saint Cloud, Minnesota Loans
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