Full-Service Restaurants Business Loans

Looking for business loans for full-service restaurants? The SBA may be the answer. This $340,000 full-service restaurants loan was issued by a North Dakota bank.

Getting a small business loan in Minot, North Dakota was important for this small business back in 2000 and, based on their loan application, they were successful in getting an SBA loan from First Internatl Bank & Tr, operating out of Minot, North Dakota. Here are the details on this North Dakota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
MINOT, ND 58701

SBA Loan Lender

FIRST INTERNATL BANK & TR
1705 2ND AVE SW
MINOT, ND 58701

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

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

12/7/2000

Loan Approval Gross Amount

$340,000

Loan Approval from the SBA

Of the total $340,000 loan amount, the SBA guaranteed $255,000.

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 53 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from First Internatl Bank & Tr 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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