Where to Get Capital for Snack and Nonalcoholic Beverage Bars

Looking for small business loans for snack and nonalcoholic beverage bars? Try the SBA. This $22,000 snack and nonalcoholic beverage bars loan was issued by an Alaska bank.

Getting a small business loan in Fairbanks, Alaska was important for this growing firm back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Mt. Mckinley Bank, operating out of Fairbanks, Alaska. Here are the details on this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
FAIRBANKS, AK 99701

SBA Loan Lender

MT. MCKINLEY BANK
530 FOURTH AVE
FAIRBANKS, AK 99701

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

11/6/2001

Loan Approval Gross Amount

$22,000

Loan Approval from the SBA

Of the total $22,000 loan amount, the SBA guaranteed $18,700.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mt. Mckinley Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mt. Mckinley Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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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