Minneapolis, Minnesota Bank Gives SBA Loan to Full-Service Restaurants Company

Thinking about meeting with a Minneapolis, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Minneapolis bank, that was approved by the SBA.

Applying for an SBA loan with Franklin National Bank - Minneapolis worked out well for our friends at one local firm in Minneapolis, Minnesota. The business was able to get an SBA loan for $150,000. Sweet!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MINNEAPOLIS, MN 55401

SBA Loan Lender

FRANKLIN NATIONAL BANK - MINNEAPOLIS
2100 BLAISDELL AVE SOUTH
MINNEAPOLIS, MN 55404

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/26/2005

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the business planned to use the loan proceeds to increase staffing levels 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.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, if it to be, it is up to me!

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:

Small Business Loan

SBA 7A Lenders in Minneapolis, Minnesota

Getting an SBA Loan in Minnesota