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April 29, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Eating Places Loan | ||||
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Who Can Get a Business Loan in Chandler, Arizona?
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Limited-Service Restaurants Small Business LoansLooking for small business loans for limited-service restaurants? Try the SBA. This $392,400 limited-service restaurants loan was issued by a Minnesota bank. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Stearns Bank, out of Saint Cloud, Minnesota. The loan was granted and they received $392,400 to help grow their Chandler, Arizona business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender STEARNS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 11/21/2005 Loan Approval Gross Amount $392,400 Loan Approval from the SBA Of the total $392,400 loan amount, the SBA guaranteed $294,300. 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 9 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Stearns Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Where to Get an SBA Loan in Saint Cloud, Minnesota
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