Limited-Service Restaurants Commercial Loans

Looking for commercial loans for limited-service restaurants? The SBA may be the answer. This $125,000 limited-service restaurants loan was issued by a Minnesota bank.

Getting a small business loan in Golden Valley, Minnesota was important for this business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from First National Bank Minnesota, operating out of Saint Peter, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
GOLDEN VALLEY, MN 55427

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
226 NASSAU ST
SAINT PETER, MN 56082

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial 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

9/24/2007

Loan Approval Gross Amount

$125,000

Loan Approval from the SBA

Of the total $125,000 loan amount, the SBA guaranteed $106,250.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 35 employees. The SBA loan documents indicated that the loan would help retain 35 existing jobs.

Next Steps for Getting an SBA Loan

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

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 First National Bank Minnesota 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:

Small Business Loan

Best Saint Peter, Minnesota Banks for Small Business

SBA Lenders in Minnesota