Get an SBA Loan for Limited-Service Restaurants

Looking for bank loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $90,415 limited-service restaurants loan was issued by a Minnesota bank.

This small firm received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Tcf National Bank, out of Edina, Minnesota. The loan was granted and they received $90,415 to help grow their Minneappolis, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MINNEAPPOLIS, MN 55403

SBA Loan Lender

TCF NATIONAL BANK
3330 W 66TH ST
EDINA, MN 55435

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/11/2003

Loan Approval Gross Amount

$90,415

Loan Approval from the SBA

Of the total $90,415 loan amount, the SBA guaranteed $76,853.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.

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

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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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