Financing for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $135,000 full-service restaurants loan was issued by a North Dakota bank.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Citizens Community Cu, out of Devils Lake, North Dakota. The loan was granted and they received $135,000 to help grow their East Grand Forks, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
EAST GRAND FORKS, MN 56721

SBA Loan Lender

CITIZENS COMMUNITY CU
1117 HWY 2 SE
DEVILS LAKE, ND 58301

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/19/2005

Loan Approval Gross Amount

$135,000

Loan Approval from the SBA

Of the total $135,000 loan amount, the SBA guaranteed $67,500.

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 20 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 25 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citizens Community Cu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

Understanding Dilution

Small Bank Loans in Devils Lake, North Dakota

SBA Lenders in North Dakota