How to Get a Loan for Snack and Nonalcoholic Beverage Bars

Looking for SBA loans for snack and nonalcoholic beverage bars? Talk to a banker who works with the SBA. This $150,000 snack and nonalcoholic beverage bars loan was issued by a Minnesota bank.

Getting a small business loan in Rogers, Minnesota was important for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Riverview Community Bank, operating out of Otsego, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
ROGERS, MN 55374

SBA Loan Lender

RIVERVIEW COMMUNITY BANK
9040 QUADAY AVE NE
OTSEGO, MN 55330

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

5/13/2003

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 6 employees. This SBA loan request did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

We can help you find the best banks for small businesses in Rogers or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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