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April 19, 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 > Cornwell Tools Loan | ||||
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Business Loans for Ravenna Small Businesses
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Borrow Money to Buy a Cornwell Quality Tool Company,Inc FranchiseNeed money to purchase a Cornwell Quality Tool Company,Inc franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Ravenna, Ohio needed money to invest in a Cornwell Quality Tool Company,Inc franchise back in 2003. Stearns Bank issued an SBA franchise loan. Here are the details on this Ohio small business loan. SBA Loan Borrower CORNWELL TOOLS SBA Loan Lender STEARNS BANK This lender issued this particular commercial loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5963 - Direct Selling Establishments NAICS Code 454390 - Direct Selling Establishments Loan Approval Date 1/10/2003 Loan Approval Gross Amount $70,700 Loan Approval from the SBA Of the total $70,700 loan amount, the SBA guaranteed $60,095. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Cornwell Quality Tool Company,Inc franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $70,700. How would you spend $70,700 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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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