Saint Cloud, Minnesota Lender Lends Money to Investment Advice Company
Want to talk with a Saint Cloud, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Saint Cloud bank, that was approved by the SBA.
Applying for an SBA loan with Stearns Bank worked out well for our friends at one local firm in Sartell, Minnesota. They received an SBA loan for $50,000. Great job!
SBA Loan Borrower
COMPANY TYPE: INVESTMENT ADVICE
SARTELL, MN 56377
SBA Loan Lender
STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
523930 - Investment Advice
Loan Approval Date
12/13/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 2 employees. The loan application did not indicate that the small business planned to use the funding to add employees or retain any existing employees.
Great, But How Can I Get an SBA Loan for My Business?
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Stearns Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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:
Bank Credit Lines
SBA 7A Banks for Saint Cloud, Minnesota Loans
SBA Participating Banks in Minnesota