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May 6, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Stillwater, Business Loans > Central Bank Stillwater Business Loans > Eating Places Loan | ||||
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Raising Money in Champlin, Minnesota With SBA Loans
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How to Get a Loan for Limited-Service RestaurantsLooking for SBA loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $150,000 limited-service restaurants loan was issued by a Minnesota bank. This small business knew how to go about getting a business bank loan. Based in Champlin, Minnesota, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Central Bank, based in Stillwater, Minnesota. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender CENTRAL BANK This lender issued this particular 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 722211 - Limited-Service Restaurants Loan Approval Date 7/1/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 18 employees. This SBA loan request did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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 Best Banks for Small Business in Stillwater, Minnesota Getting an SBA Loan in Minnesota
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