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May 6, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Saint Cloud, Business Loans > Stearns Bank Saint Cloud Business Loans > Spd Sub Ventures III, LLC Loan | ||||
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Raising Money in Rexford, New York With SBA Loans
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Stearns Bank Provides SBA Loan to Buy Quiznos FranchiseNeed money to purchase a Quiznos franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Rexford, New York and are interested in buying a Quiznos franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2004 by Stearns Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower SPD SUB VENTURES III, LLC SBA Loan Lender STEARNS BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/11/2004 Loan Approval Gross Amount $196,900 Loan Approval from the SBA Of the total $196,900 loan amount, the SBA guaranteed $147,675. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was used to buy a Quiznos franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Stearns Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Stearns Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Small Bank Loans in Saint Cloud, Minnesota
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