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May 5, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Eating Places Loan | ||||
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Business Loans from Stearns Bank
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Stearns Bank SBA Loan to Eating Places CompanyAn SBA loan from Stearns Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Centreville, Virginia business owner got a $248,000 loan. This small firm knew how to go about getting a business bank loan. Based in Centreville, Virginia, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was Stearns Bank, based in Saint Cloud, Minnesota. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender STEARNS BANK This SBA business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722213 - Snack and Nonalcoholic Beverage Bars Loan Approval Date 4/3/2006 Loan Approval Gross Amount $248,000 Loan Approval from the SBA Of the total $248,000 loan amount, the SBA guaranteed $186,000. 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 only one employee. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business If you need money to start business in Centreville VA, you ought to talk with a local Centreville SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Centreville businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Obtaining Funding - How to Borrow Money Small Business Banks in Saint Cloud, Minnesota
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