How to Get a Loan for Full-Service Restaurants

Looking for business loans for full-service restaurants? Talk to a banker who works with the SBA. This $430,000 full-service restaurants loan was issued by a Minnesota bank.

This small business knew how to go about getting a business bank loan. Based in Kendall Park, New Jersey, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Wells Fargo Bank, based in Minneapolis, Minnesota.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
KENDALL PARK, NJ 08824

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/21/2001

Loan Approval Gross Amount

$430,000

Loan Approval from the SBA

Of the total $430,000 loan amount, the SBA guaranteed $322,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 13 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great funding source

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 Wells Fargo 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:

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Minneapolis, Minnesota

SBA Participating Banks in Minnesota