Glencoe, Minnesota Bank Gives SBA Loan to Full-Service Restaurants Company

Thinking about meeting with a Glencoe, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Glencoe bank, that was approved by the SBA.

Applying for an SBA loan with Security Bank & Trust worked out well for our friends at one local firm in Glencoe, Minnesota. The business was able to get an SBA loan for $251,250. Nice!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GLENCOE, MN 55336

SBA Loan Lender

SECURITY BANK & TRUST
735 11TH ST EAST
GLENCOE, MN 55336

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/31/2006

Loan Approval Gross Amount

$251,250

Loan Approval from the SBA

Of the total $251,250 loan amount, the SBA guaranteed $188,438.

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 only one employee. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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