Getting an SBA Loan for Full-Service Restaurants

With these SBA loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $70,000 was given to a North Dakota entrepreneur in 2006.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Bremer Bank, out of Fargo, North Dakota. The loan was granted and they received $70,000 to help grow their Grand Forks, North Dakota business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
GRAND FORKS, ND 58201

SBA Loan Lender

BREMER BANK
1444 45TH ST SW
FARGO, ND 58103

This lender processed this loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$70,000

Loan Approval from the SBA

Of the total $70,000 loan amount, the SBA guaranteed $35,000.

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 10 employees. The SBA loan application for the borrower indicated that the loan would help retain 10 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bremer Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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