Full-Service Restaurants Bank Loans

Looking for bank loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $100,000 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 Minneapolis, Minnesota was able to borrow $100,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $85,000 of this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MINNEAPOLIS, MN 55413

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/24/2007

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $85,000.

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 only one employee. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 1 existing job.

Great, But How Can I Get an SBA Loan for My Business?

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

We can help you find the best banks for small businesses in Minneapolis 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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