SBA Loan from United Prairie Bank Helps Limited-Service Restaurants Company

United Prairie 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 Slayton, Minnesota, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was United Prairie Bank, based in Mountain Lake, Minnesota.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SLAYTON, MN 56172

SBA Loan Lender

UNITED PRAIRIE BANK
1141 THIRD AVE
MOUNTAIN LAKE, MN 56159

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

4/20/2007

Loan Approval Gross Amount

$56,000

Loan Approval from the SBA

Of the total $56,000 loan amount, the SBA guaranteed $47,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The loan application indicated that the loan would help generate 1 new job and retain 1 existing job.

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

SBA loans provide money to small business owners for working capital for other expenses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $56,000 loan. Remember, things become real when you believe you can achieve them!

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:

Determining Proper Capital Structure for a Business

Best Banks for Small Business in Mountain Lake, Minnesota

Minnesota SBA 7A Banks