Loans for Full-Service Restaurants

Looking for loans for full-service restaurants? Try the SBA. This $199,500 full-service restaurants loan was issued by a Minnesota bank.

This small firm knew how to go about getting a business bank loan. Based in Sunburg, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Lake Region Bank, based in New London, Minnesota.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SUNBURG, MN 56289

SBA Loan Lender

LAKE REGION BANK
51 MAIN ST
NEW LONDON, MN 56273

This lender processed this SBA loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$199,500

Loan Approval from the SBA

Of the total $199,500 loan amount, the SBA guaranteed $99,750.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

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

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Lake Region Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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:

Business Line of Credit

SBA Banks in New London, Minnesota

Getting a Business Loan in Minnesota