SBA Loan from Highland Bank Helps Full-Service Restaurants Company

Highland Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Minnesota entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Highland Bank, out of Saint Michael, Minnesota. The loan was granted and they received $31,400 to help grow their St. Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ST. PAUL, MN 55102

SBA Loan Lender

HIGHLAND BANK
701 CENTRAL AVE EAST
SAINT MICHAEL, MN 55376

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/4/2005

Loan Approval Gross Amount

$31,400

Loan Approval from the SBA

Of the total $31,400 loan amount, the SBA guaranteed $26,690.

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 6 employees. The SBA loan documents indicated that the loan would help generate 6 new jobs and retain 6 existing jobs.

Start the Process for Getting an SBA Loan Today!

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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:

Startup Funding Tip

Good Banks for Small Business in Saint Michael, Minnesota

Where to Get an SBA Loan Minnesota