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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Mora, Business Loans > Kanabec State Bank Mora Business Loans > Full-Service Restaurants Loan | ||||
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Tips for Businesses On Getting a Loan
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SBA Loans for Full-Service RestaurantsLooking for SBA loans for full-service restaurants? The SBA may be the answer. This $460,000 full-service restaurants loan was issued by a Minnesota bank. This small business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Kanabec State Bank, out of Mora, Minnesota. The loan was granted and they received $460,000 to help grow their Mora, Minnesota business. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender KANABEC STATE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 9/2/2003 Loan Approval Gross Amount $460,000 Loan Approval from the SBA Of the total $460,000 loan amount, the SBA guaranteed $345,000. 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 13 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. 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 $460,000 loan. Remember, you control your own destiny. 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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