Financing for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $107,000 full-service restaurants loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Atwater, Minnesota was able to borrow $107,000 from Atwater State Bank. The SBA made the loan possible by guaranteeing $90,950 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ATWATER, MN 56209

SBA Loan Lender

ATWATER STATE BANK
222 ATLANTIC
ATWATER, MN 56209

This lender issued this particular 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

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/15/2002

Loan Approval Gross Amount

$107,000

Loan Approval from the SBA

Of the total $107,000 loan amount, the SBA guaranteed $90,950.

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 5 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

We've showcased information on this loan to let you know that businesses like yours 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.

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