How to Get a Loan for Full-Service Restaurants

Looking for SBA loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $460,000 full-service restaurants loan was issued by a Minnesota bank.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First State Bank Southwest, out of Worthington, Minnesota. The loan was granted and they received $460,000 to help grow their Luverne, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LUVERNE, MN 56156

SBA Loan Lender

FIRST STATE BANK SOUTHWEST
1433 OXFORD ST
WORTHINGTON, MN 56187

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide bank loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/29/2002

Loan Approval Gross Amount

$460,000

Loan Approval from the SBA

Of the total $460,000 loan amount, the SBA guaranteed $345,000.

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. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $460,000. How would you spend $460,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Debt Financing

Small Business Banks in Worthington, Minnesota

Getting a Business Loan in Minnesota