SBA Loan from American Bank Of St. Paul Helps Full-Service Restaurants Company
American Bank Of St. Paul is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans.
This business knew how to go about getting a business bank loan. Based in Minneapolis, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was American Bank Of St. Paul, based in Saint Paul, Minnesota.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
MINNEAPOLIS, MN 55454
SBA Loan Lender
AMERICAN BANK OF ST. PAUL
1578 UNIVERSITY AVE WEST
SAINT PAUL, MN 55104
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
12/3/2007
Loan Approval Gross Amount
$280,000
Loan Approval from the SBA
Of the total $280,000 loan amount, the SBA guaranteed $210,000.
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 SBA loan documents indicated that the loan would help generate 2 new jobs and retain 32 existing jobs.
Start the Process for Getting an SBA Loan Today!
Many small businesses receive loans backed by the U.S. Small Business Administration.
Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $280,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?
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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