Rochester, Minnesota Lender Lends Money to Full-Service Restaurants Company

Thinking about meeting with a Rochester, Minnesota bank about a small business loan? Here's one Minnesota business loan, issued by a Rochester bank, that was approved by the SBA.

Applying for an SBA loan with Home Federal Savings Bank worked out well for our friends at one local business in Rochester, Minnesota. The business was able to get an SBA loan for $512,800. Awesome!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ROCHESTER, MN 55902

SBA Loan Lender

HOME FEDERAL SAVINGS BANK
1016 CIVIC CENTER DR
ROCHESTER, MN 55901

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/26/2006

Loan Approval Gross Amount

$512,800

Loan Approval from the SBA

Of the total $512,800 loan amount, the SBA guaranteed $384,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 28 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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

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