Stearns Bank Provides SBA Loan to Buy Instant Imprints Franchise
Need a loan to buy an Instant Imprints franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.
Instant Imprints franchise loans are available to Fayetteville, North Carolina entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for an Instant Imprints franchise in 2004. We've got all the details on this North Carolina small business loan.
SBA Loan Borrower
CAPE FEAR CARTRIDGES, INC.
FAYETTEVILLE, NC 28314
SBA Loan Lender
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301
This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.
SBA Loan Program Type
This loan was issued as a general business loan.
421840 - Industrial Supplies Wholesalers
Loan Approval Date
Loan Approval Gross Amount
Loan Approval from the SBA
Of the total $105,000 loan amount, the SBA guaranteed $89,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy an Instant Imprints franchise. At the time of the loan, the company
had 3 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
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.
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