Full-Service Restaurants Bank Loans
Looking for bank loans for full-service restaurants? Talk to a banker who works with the SBA. This $80,000 full-service restaurants loan was issued by a Minnesota bank.
Getting a small business loan in Aitkin, Minnesota was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Security State Bank Of Aitkin, operating out of Aitkin, Minnesota. Here are the details on this Minnesota small business loan.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
AITKIN, MN 56431
SBA Loan Lender
SECURITY STATE BANK OF AITKIN
402 MINNESOTA AVE NORTH
AITKIN, MN 56431
This lender issued this particular SBA bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.
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
10/23/2002
Loan Approval Gross Amount
$80,000
Loan Approval from the SBA
Of the total $80,000 loan amount, the SBA guaranteed $68,000.
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 5 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to increase staffing levels or retain any existing employees.
Next Steps for Getting an SBA Loan
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.
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:
Obtaining Funding - Getting Venture Capital
Banks in Aitkin, Minnesota
Where to Get an SBA Loan Minnesota