Park Midway Bank Provides SBA Loan to Buy Perkins Restaurants Franchise

Borrowing money to buy a Perkins Restaurants franchise? Park Midway Bank has a history of making these loans and they are guaranteed by the SBA.

Perkins Restaurants franchise loans are available to St. Paul, Minnesota entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Park Midway Bank, based in Saint Paul, Minnesota, issued an SBA franchise loan for a Perkins Restaurants franchise in 2002. We've got all the details on this Minnesota small business loan.

SBA Loan Borrower

PERKINS RESTAURANT
ST. PAUL, MN 55119

SBA Loan Lender

PARK MIDWAY BANK
2300 COMO AVE
SAINT PAUL, MN 55108

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/13/2002

Loan Approval Gross Amount

$893,000

Loan Approval from the SBA

Of the total $893,000 loan amount, the SBA guaranteed $669,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Perkins Restaurants franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your 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 St. Paul 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.

Related Links:

Getting a Small Business Loan

Banks in Saint Paul, Minnesota

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