Limited-Service Restaurants Loans

Looking for loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $40,400 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 Wells Fargo Bank, out of Minneapolis, Minnesota. The loan was granted and they received $40,400 to help grow their Moorehead, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MOOREHEAD, MN 56561

SBA Loan Lender

WELLS FARGO BANK
1455 W LAKE ST
MINNEAPOLIS, MN 55408

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/6/2003

Loan Approval Gross Amount

$40,400

Loan Approval from the SBA

Of the total $40,400 loan amount, the SBA guaranteed $34,340.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the business promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Wells Fargo Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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.

Related Links:

Getting a Small Business Loan

Small Bank Loans in Minneapolis, Minnesota

Minnesota SBA 7A Banks