Borrowing Money for Drinking Places

Looking for bank loans for drinking places? Try the SBA. This $635,000 drinking places loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Maplewood, Minnesota was able to borrow $635,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $476,250 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
MAPLEWOOD, MN 55119

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
9918 HIBERT ST, STE 100
SAN DIEGO, CA 92131

This business 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.

NAICS Code

722410 - Drinking Places

Loan Approval Date

10/8/2004

Loan Approval Gross Amount

$635,000

Loan Approval from the SBA

Of the total $635,000 loan amount, the SBA guaranteed $476,250.

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 9 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are working on finding money to start a business in Maplewood MN, you ought to talk with a local Maplewood SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Maplewood businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into U.S. Bank National Association and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Role of Business Plan When Raising Money

Banks in San Diego, California

Find an SBA Lender in California