Full-Service Restaurants Bank Loans

With these bank loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $337,000 was given to a Minnesota entrepreneur in 2001.

This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Western Bank, out of Oakdale, Minnesota. The loan was granted and they received $337,000 to help grow their West St Paul, Minnesota business.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
WEST ST PAUL, MN 55118

SBA Loan Lender

WESTERN BANK
1155 HADLEY AVE NORTH
OAKDALE, MN 55128

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/6/2001

Loan Approval Gross Amount

$337,000

Loan Approval from the SBA

Of the total $337,000 loan amount, the SBA guaranteed $252,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Western Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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

Find an SBA Lender in Oakdale, Minnesota

SBA Participating Banks in Minnesota