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April 28, 2024 |
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| Home > Small Business Lenders by State > Ohio Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Consumer Goods Rental Loan | ||||
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We Needed an SBA 7A Loan in North Olmsted, Ohio and We Got One!
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Getting an SBA Loan for Consumer Goods RentalLooking for commercial loans for consumer goods rental? Try the SBA. This $200,000 consumer goods rental loan was issued by a Minnesota bank. Getting a small business loan in North Olmsted, Ohio was important for this business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Stearns Bank, operating out of Saint Cloud, Minnesota. Here are the details on this Ohio small business loan. SBA Loan Borrower COMPANY TYPE: CONSUMER GOODS RENTAL SBA Loan Lender STEARNS BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 532299 - Consumer Goods Rental Loan Approval Date 12/19/2003 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the funding 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Banks in Saint Cloud, Minnesota
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