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November 23, 2024  
 
 
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I Need an SBA Loan to Buy a Franchise in Minneapolis, Minnesota

 

 
Loan Census SBA Loan Info

Minneapolis, MN Entrepreneur Gets SBA Loan to Buy Steak Escape Franchise

Need a loan to buy a Steak Escape franchise? M&i Marshall & Ilsley Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Minneapolis, Minnesota needed money to invest in a Steak Escape franchise back in 2000. M&i Marshall & Ilsley Bank issued an SBA franchise loan. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

STEAK ESCAPE
MINNEAPOLIS, MN 55417

SBA Loan Lender

M&I MARSHALL & ILSLEY BANK
6625 LYNDALE AVE SOUTH
RICHFIELD, MN 55402

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/10/2000

Loan Approval Gross Amount

$232,000

Loan Approval from the SBA

Of the total $232,000 loan amount, the SBA guaranteed $174,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Steak Escape franchise. At the time of the loan, the company had 15 employees. The loan application indicated that the loan would help generate 17 new jobs and retain 32 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

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 $232,000 loan. Remember, fight for what you want, and it will be yours!

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:

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SBA 7A Banks in Richfield, Minnesota

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