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April 29, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Faribault, Business Loans > 1st United Bank Faribault Business Loans > Full-Service Restaurants Loan | ||||
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Banks in Faribault, Minnesota That Make SBA Loans
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Faribault, Minnesota Lender Lends Money to Full-Service Restaurants CompanyThinking about meeting with a Faribault, Minnesota bank about an SBA loan? Here's one Minnesota business loan, issued by a Faribault bank, that was approved by the SBA. Applying for an SBA loan with 1st United Bank worked out well for our friends at one local firm in Faribault, Minnesota. The business was able to get an SBA loan for $90,500. Way to go! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender 1ST UNITED BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 8/30/2007 Loan Approval Gross Amount $90,500 Loan Approval from the SBA Of the total $90,500 loan amount, the SBA guaranteed $76,925. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $90,500 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: SBA 7A Banks for Faribault, Minnesota Loans Find an SBA Lender in Minnesota
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