Coon Rapids, MN Entrepreneur Gets SBA Loan to Buy Taco Del Mar Franchise

Borrowing money to buy a Taco Del Mar franchise? 1st National Bank - Elk River has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Coon Rapids, Minnesota needed money to invest in a Taco Del Mar franchise back in 2007. 1st National Bank - Elk River issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

TACO DEL MAR
COON RAPIDS, MN 55448

SBA Loan Lender

1ST NATIONAL BANK - ELK RIVER
729 MAIN ST
ELK RIVER, MN 55330

This 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

722211 - Limited-Service Restaurants

Loan Approval Date

5/15/2007

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Taco Del Mar franchise. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the funding would help generate 5 new jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $170,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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Taco Del Mar

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