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April 27, 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 > Ups Store Loan | ||||
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How Can I Buy a Franchise in Canfield, Ohio?
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Borrow Money to Buy a The UPS Store FranchiseNeed money to purchase a UPS Store franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. Want to borrow money to buy a The UPS Store franchise? If so, here's a 2004 SBA franchise loan that you should know about. Stearns Bank was the lender and the entrepreneur was based in Canfield, Ohio. SBA Loan Borrower UPS STORE SBA Loan Lender STEARNS BANK This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 561431 - Private Mail Centers Loan Approval Date 4/12/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a The UPS Store franchise. At the time of the loan, the company had 8 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. While you may be able to borrow money from friends and family, 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: Small Bank Loans in Saint Cloud, Minnesota
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