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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Limited-Service Restaurants Loan | ||||
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Minnesota SBA 7A Lenders
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Saint Cloud, Minnesota Lender Lends Money to Limited-Service Restaurants CompanyA Saint Cloud, Minnesota small business loan can be yours. Learn how a company got a $275,500 business loan from this Minnesota bank. This loan to a local firm is a good example of an SBA loan. Stearns Bank made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender STEARNS BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 8/2/2006 Loan Approval Gross Amount $275,500 Loan Approval from the SBA Of the total $275,500 loan amount, the SBA guaranteed $206,625. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help generate 7 new jobs and retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: SBA 7A Lenders in Saint Cloud, Minnesota
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