Where to Get Capital for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $75,500 was given to a Minnesota entrepreneur in 2002.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fergus Falls, Minnesota was able to borrow $75,500 from Amer National Bank - Minnesota. The SBA made the loan possible by guaranteeing $64,175 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
FERGUS FALLS, MN 56537

SBA Loan Lender

AMER NATIONAL BANK - MINNESOTA
727 WESTERN AVE NORTH
FERGUS FALLS, MN 56537

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

1/23/2002

Loan Approval Gross Amount

$75,500

Loan Approval from the SBA

Of the total $75,500 loan amount, the SBA guaranteed $64,175.

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 12 employees. The SBA loan application for the borrower did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $75,500 loan. Remember, anyone can do it... so why not you?

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:

Role of Business Plan When Raising Money

SBA Participating Banks in Fergus Falls, Minnesota

Getting an SBA Loan in Minnesota