Getting an SBA Loan for Drinking Places

With these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $194,400 was given to a North Dakota entrepreneur in 2006.

Getting a small business loan in Grand Forks, North Dakota was important for this business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Choice Financial Group, operating out of Grand Forks, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
GRAND FORKS, ND 58201

SBA Loan Lender

CHOICE FINANCIAL GROUP
1697 S 42ND ST
GRAND FORKS, ND 58201

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

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5813 - Drinking Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

4/18/2006

Loan Approval Gross Amount

$194,400

Loan Approval from the SBA

Of the total $194,400 loan amount, the SBA guaranteed $145,800.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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