Minnesota Business Loan Issued to Full-Service Restaurants Company
SBA loans in Minnesota are hard to find these days. We take a look at one Minnesota SBA loan, provided by a California bank, that was approved by the SBA.
Getting a small business loan in Minneapolis, Minnesota was a top priority for this particular business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Wells Fargo Bank. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
MINNEAPOLIS, MN 55408
SBA Loan Lender
WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
1/20/2006
Loan Approval Gross Amount
$87,500
Loan Approval from the SBA
Of the total $87,500 loan amount, the SBA guaranteed $74,375.
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 15 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 15 existing jobs.
Getting an SBA Loan For Your Business
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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