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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Pine City, Business Loans > Horizon Bank Pine City Business Loans > Full-Service Restaurants Loan | ||||
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I Need a Small Business Loan in Princeton, Minnesota
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Small Business Loans for Full-Service RestaurantsLooking for small business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 full-service restaurants loan was issued by a Minnesota bank. This company knew how to go about getting a business bank loan. Based in Princeton, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Horizon Bank, based in Pine City, Minnesota. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender HORIZON BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/11/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 25 employees. This SBA loan request indicated that the loan would help generate 15 new jobs and retain 25 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans provide money to small business owners for working capital for other expenses. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Horizon Bank 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. Related Links: Advice on Getting a Small Business Loan SBA Banks in Pine City, Minnesota
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