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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Hinckley, Business Loans > Woodlands National Bank Hinckley Business Loans > Full-Service Restaurants Loan | ||||
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Woodlands National Bank
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Woodlands National Bank SBA Loan to Full-Service Restaurants CompanyWoodlands National Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them. Getting a small business loan in Grand Rapids, Minnesota was an essential business goal for this firm back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Woodlands National Bank, operating out of Hinckley, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WOODLANDS NATIONAL BANK This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 12/28/2006 Loan Approval Gross Amount $415,000 Loan Approval from the SBA Of the total $415,000 loan amount, the SBA guaranteed $311,250. 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 12 employees. The SBA loan documents did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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. Related Links: A Company That Helps Entrepreneurs Good Banks for Small Business in Hinckley, Minnesota
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