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April 27, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Perishable Prepared Food Manufacturing Loan | ||||
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SBA Lenders for Auburn Entrepreneurs
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Auburn, California Entrepreneur Gets an SBA LoanCaliforniaBusiness loans are available to California business owners through the SBA. In this case, a Minnesota bank provides the loan. By giving the right information to Stearns Bank, this Auburn, California business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: PERISHABLE PREPARED FOOD MANUFACTURING SBA Loan Lender STEARNS BANK This lender provides SBA guaranteed bank 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 5/19/2006 Loan Approval Gross Amount $270,900 Loan Approval from the SBA Of the total $270,900 loan amount, the SBA guaranteed $203,175. 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 5 employees. The loan application indicated that the borrowed money would help create 7 new jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Banks in Saint Cloud, Minnesota
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