Getting an SBA Loan for Limited-Service Restaurants

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $45,000 was given to a Massachusetts entrepreneur in 2007.

This business knew how to go about getting a business bank loan. Based in Edina, Massachusetts, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Guaranty Bank, based in Bloomington, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
EDINA, MA 55439

SBA Loan Lender

GUARANTY BANK
3001 METRO DR, STE 320
BLOOMINGTON, MN 55425

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/23/2007

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 5 existing jobs.

Next Steps for Getting an SBA Loan

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

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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:

Small Business Loan

Where to Get an SBA Loan in Bloomington, Minnesota

Getting an SBA Loan in Minnesota