Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? The SBA may be the answer. This $50,000 full-service restaurants loan was issued by a South Dakota bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Maplewood, Minnesota was able to borrow $50,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $25,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MAPLEWOOD, MN 55109

SBA Loan Lender

WELLS FARGO BANK
101 N PHILIPS AVE
SIOUX FALLS, SD 57104

The lender provided this loan for a small business through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/10/2007

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 30 employees. The loan application indicated that the loan would help generate 10 new jobs and retain 10 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

While you may be able to find other ways to get money to start a business, 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.

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