Iowa Entrepreneur Secures Financing to Buy Krieger's Sports Bar & Grill Franchise

Borrowing money to purchase a Krieger's Sports Bar & Grill franchise? Stearns Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in West Des Moines, Iowa needed money to invest in a Krieger's Sports Bar & Grill franchise back in 2005. Stearns Bank issued an SBA franchise loan. Here are the details on this Iowa small business loan.

SBA Loan Borrower

KRIEGER'S SPORTS PUB & GRILL
WEST DES MOINES, IA 50266

SBA Loan Lender

STEARNS BANK
4191 2ND ST SOUTH
SAINT CLOUD, MN 56301

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/1/2005

Loan Approval Gross Amount

$321,000

Loan Approval from the SBA

Of the total $321,000 loan amount, the SBA guaranteed $240,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Krieger's Sports Bar & Grill franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 60 new jobs and retain 60 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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:

Krieger's Your Hometown Sports Grill

Accountant's Role in Securing Financing

Best Banks for Small Business in Saint Cloud, Minnesota

Getting an SBA Loan in Minnesota