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November 21, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Saint Paul, Business Loans > Drake Bank Saint Paul Business Loans > Full-Service Restaurants Loan | ||||
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Drake Bank
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Business Loan from Drake Bank Given to Full-Service Restaurants CompanyDrake Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Brookly Park, Minnesota, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Drake Bank, based in Saint Paul, Minnesota. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender DRAKE BANK This small business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/24/2004 Loan Approval Gross Amount $325,000 Loan Approval from the SBA Of the total $325,000 loan amount, the SBA guaranteed $243,750. 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 12 employees. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Drake Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Realistic Debt Financing Options SBA 7A Banks for Saint Paul, Minnesota Loans Where to Get an SBA Loan Minnesota
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