SBA Loan from First Advantage Bank Helps Full-Service Restaurants Company

An SBA loan from First Advantage Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Brooklyn Park, Minnesota business owner got a $489,738 loan.

Getting a small business loan in Brooklyn Park, Minnesota was an essential business goal for this company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Advantage Bank, operating out of Coon Rapids, Minnesota. Here are the details on this Minnesota small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
BROOKLYN PARK, MN 55445

SBA Loan Lender

FIRST ADVANTAGE BANK
9950 FOLEY BLVD NW
COON RAPIDS, MN 55433

This SBA bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/15/2006

Loan Approval Gross Amount

$489,738

Loan Approval from the SBA

Of the total $489,738 loan amount, the SBA guaranteed $367,304.

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 70 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Advantage Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

How to Raise Money

SBA Participating Banks in Coon Rapids, Minnesota

Getting a Business Loan in Minnesota