Loan Census Banking News and Information
July 1, 2022  
 
 
  Business Loan Information  
 

I Need a Small Business Loan to Buy a Franchise in Portland, Oregon

 

 
Loan Census SBA Loan Info

Loan to Buy Instant Imprints Franchise Issued By Stearns Bank

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 Portland, Oregon 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 2003. We've got all the details on this Oregon small business loan.

SBA Loan Borrower

INSTANT IMPRINTS OF OREGON & S
PORTLAND, OR 97229

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . 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.

NAICS Code

323113 - Commercial Screen Printing

Loan Approval Date

10/31/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

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 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, where there is a will, there is a way!

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:

Instant Imprints

504 Loans

Banks in Saint Cloud, Minnesota

Find an SBA Lender in Minnesota