Loans for Limited-Service Restaurants

Looking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $185,000 limited-service restaurants loan was issued by a Minnesota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Glenwood, Minnesota was able to borrow $185,000 from Glenwood State Bank. The SBA made the loan possible by guaranteeing $138,750 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
GLENWOOD, MN 56334

SBA Loan Lender

GLENWOOD STATE BANK
5 E MINNESOTA
GLENWOOD, MN 56334

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/15/2006

Loan Approval Gross Amount

$185,000

Loan Approval from the SBA

Of the total $185,000 loan amount, the SBA guaranteed $138,750.

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 21 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Glenwood State Bank and they will explain how you can get an SBA loan for your company.

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:

Alternative Financing

SBA Approved Banks in Glenwood, Minnesota

Getting an SBA Loan in Minnesota