Limited-Service Restaurants Loans

Looking for loans for limited-service restaurants? The SBA may be the answer. This $102,000 limited-service restaurants loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Champlin, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Americana Community Bank, based in Sleepy Eye, Minnesota.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
CHAMPLIN, MN 55316

SBA Loan Lender

AMERICANA COMMUNITY BANK
300 MAIN ST WEST
SLEEPY EYE, MN 56085

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

7/30/2002

Loan Approval Gross Amount

$102,000

Loan Approval from the SBA

Of the total $102,000 loan amount, the SBA guaranteed $86,700.

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 7 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

This SBA loan was for $102,000. How would you spend $102,000 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:

Accountant's Role in Securing Financing

SBA 7A Banks for Sleepy Eye, Minnesota Loans

Getting an SBA Loan in Minnesota