Raising Money for Limited-Service Restaurants

With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $270,000 was given to a Minnesota entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Mankato, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was First National Bank Minnesota, based in Saint Peter, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MANKATO, MN 56001

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
226 NASSAU ST
SAINT PETER, MN 56082

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

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

10/24/2002

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 45 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

We can help you find the best banks for small businesses in Mankato or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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