First National Bank - No. SBA Loan to Full-Service Restaurants Company

An SBA loan from First National Bank - No. typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Finlayson, Minnesota business owner got a $248,000 loan.

Getting a small business loan in Finlayson, Minnesota was an essential business goal for this firm back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First National Bank - No., operating out of Sandstone, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
FINLAYSON, MN 55735

SBA Loan Lender

FIRST NATIONAL BANK - NO.
510 MAIN ST
SANDSTONE, MN 55072

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/16/2007

Loan Approval Gross Amount

$248,000

Loan Approval from the SBA

Of the total $248,000 loan amount, the SBA guaranteed $186,000.

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 16 employees. The loan application indicated that the loan would help retain 16 existing jobs.

Getting an SBA Loan For Your Business

Many small businesses receive loans backed by the U.S. Small Business Administration.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First National Bank - No. are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for 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:

Business Cash Advances

Good Banks for Small Business in Sandstone, Minnesota

Minnesota SBA Banks