Faribault, Minnesota Lender Lends Money to Full-Service Restaurants Company

Get to know Faribault, Minnesota banks that specialize in SBA loans and know how to work with entrepreneurs. The State Bank Of Faribault is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Faribault, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from The State Bank Of Faribault. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FARIBAULT, MN 55330

SBA Loan Lender

THE STATE BANK OF FARIBAULT
428 CENTRAL AVE
FARIBAULT, MN 55021

This lender processed this SBA small 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

2/23/2007

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 25 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 35 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like The State Bank Of Faribault 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.

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