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May 3, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Dunn Brothers Coffee Loan | ||||
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How to Get SBA Loans in Fridley, Minnesota
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Borrow Money to Buy a Dunn Bros Coffee FranchiseNeed money to buy a Dunn Bros Coffee franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. Dunn Bros Coffee franchise loans are available to Fridley, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Stearns Bank, based in Saint Cloud, Minnesota, issued an SBA franchise loan for a Dunn Bros Coffee franchise in 2005. We've got all the details on this Minnesota small business loan. SBA Loan Borrower DUNN BROTHERS COFFEE SBA Loan Lender STEARNS BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 4/11/2005 Loan Approval Gross Amount $291,400 Loan Approval from the SBA Of the total $291,400 loan amount, the SBA guaranteed $218,550. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Dunn Bros Coffee franchise. At the time of the loan, the company had 7 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 loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $291,400 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Best Saint Cloud, Minnesota Banks for Small Business
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