Prime Security Bank SBA Loan to Limited-Service Restaurants Company

Prime Security Bank has a track record as a leading provider of SBA loans. Find out how this Minnesota entrepreneur received an SBA loan from them.

This growing company knew how to go about getting a business bank loan. Based in Richfield, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Prime Security Bank, based in Karlstad, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
RICHFIELD, MN 55423

SBA Loan Lender

PRIME SECURITY BANK
201 S MAIN ST
KARLSTAD, MN 56732

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/28/2007

Loan Approval Gross Amount

$73,000

Loan Approval from the SBA

Of the total $73,000 loan amount, the SBA guaranteed $62,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. This SBA loan request indicated that the funding would help generate 10 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Prime Security 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:

Borrowing Money from Friends and Family

Small Bank Loans in Karlstad, Minnesota

SBA Participating Banks in Minnesota