Saint Peter, Minnesota Bank Gives SBA Loan to Limited-Service Restaurants Company

Find Saint Peter, Minnesota banks that specialize in business loans and know how to work with entrepreneurs. First National Bank Minnesota is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in St. Peter, Minnesota starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First National Bank Minnesota. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
ST. PETER, MN 56082

SBA Loan Lender

FIRST NATIONAL BANK MINNESOTA
226 NASSAU ST
SAINT PETER, MN 56082

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/22/2005

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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees.

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.

We can help you find the best banks for small businesses in St. Peter 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:

The Friends and Family Network

Best Banks for Small Business in Saint Peter, Minnesota

SBA Lenders in Minnesota