Minnesota Business Loan Issued to Eating Places Company

Bank loans in Minnesota are hard to find these days. We take a look at one Minnesota bank loan, provided by a Minnesota bank, that was approved by the SBA.

You can learn something about getting a small business loan in Baudette, Minnesota by studying this loan to a local company, made back in 2000. Banks like Border State Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
BAUDETTE, MN 56623

SBA Loan Lender

BORDER STATE BANK
1083 3RD ST NW
ROSEAU, MN 56751

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

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

3/14/2000

Loan Approval Gross Amount

$29,500

Loan Approval from the SBA

Of the total $29,500 loan amount, the SBA guaranteed $22,125.

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 22 employees. The loan application did not indicate that the small business planned to use the funding to hire new 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.

This SBA loan was for $29,500. How would you spend $29,500 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:

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