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April 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Sporting Goods Stores Loan | ||||
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Minnesota SBA Banks
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Saint Cloud, Minnesota Bank Gives SBA Loan to Sporting Goods Stores CompanyThinking about meeting with a Saint Cloud, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Saint Cloud bank, that was approved by the SBA. Applying for an SBA loan with Stearns Bank worked out well for our friends at one local company in Avon, Minnesota. They received an SBA loan for $279,000. Way to go! SBA Loan Borrower COMPANY TYPE: SPORTING GOODS STORES SBA Loan Lender STEARNS BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 451110 - Sporting Goods Stores Loan Approval Date 12/13/2001 Loan Approval Gross Amount $279,000 Loan Approval from the SBA Of the total $279,000 loan amount, the SBA guaranteed $209,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents indicated that the loan would help retain 5 existing jobs. Getting an SBA Loan For Your Business SBA loans provide money to small business owners for working capital for other expenses. We can help you find the best banks for small businesses in Avon or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Microlending as a Small Business Funding Source SBA 7A Lenders in Saint Cloud, Minnesota
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