Minneapolis, Minnesota Bank Gives SBA Loan to Full-Service Restaurants Company
Get business loans from a Minneapolis, Minnesota bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.
First National Bank - Lakes is a Minneapolis, Minnesota small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Minnesota company.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
MINNEAPOLIS, MN 55409
SBA Loan Lender
FIRST NATIONAL BANK - LAKES
3100 HENNEPIN AVE SOUTH
MINNEAPOLIS, MN 55408
This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
2/10/2004
Loan Approval Gross Amount
$117,000
Loan Approval from the SBA
Of the total $117,000 loan amount, the SBA guaranteed $99,450.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 7 employees. The loan application did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from First National Bank - Lakes so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.
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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