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December 19, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Bloomington, Business Loans > Venture Bank Bloomington Business Loans > Full-Service Restaurants Loan | ||||
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Banks for Richfield Businesses
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Richfield, Minnesota Entrepreneur Gets a Small Business LoanSBA loans in Minnesota are hard to find these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA. You can learn something about getting a small business loan in Richfield, Minnesota by studying this loan to a local business, made back in 2003. Banks like Venture Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender VENTURE BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank 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 1/30/2003 Loan Approval Gross Amount $174,000 Loan Approval from the SBA Of the total $174,000 loan amount, the SBA guaranteed $130,500. 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 9 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Venture 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: SBA 7A Banks in Bloomington, Minnesota
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