Get an SBA Loan for Full-Service Restaurants
Looking for loans for full-service restaurants? Talk to a banker who works with the SBA. This $190,000 full-service restaurants loan was issued by a Minnesota bank.
This company knew how to go about getting a business bank loan. Based in Welcome, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Welcome State Bank, based in Welcome, Minnesota.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
WELCOME, MN 56181
SBA Loan Lender
WELCOME STATE BANK
111 GUIDE ST NORTH
WELCOME, MN 56181
This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
10/3/2001
Loan Approval Gross Amount
$190,000
Loan Approval from the SBA
Of the total $190,000 loan amount, the SBA guaranteed $142,500.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 only one employee. This SBA loan request did not indicate that the business promised to use the loan proceeds to add employees or retain any existing employees.
Start the Process for Getting an SBA Loan Today!
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 $190,000 loan. Remember, feel the fear, and do it anyway.
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:
Choosing VC Firms
SBA Approved Banks in Welcome, Minnesota
Browse All Business Loan Sources for Minnesota