Limited-Service Restaurants Bank Loans
Looking for bank loans for limited-service restaurants? An SBA loan may be just what you've been looking for. This $600,000 limited-service restaurants loan was issued by a Minnesota bank.
This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Anchor Bank Heritage, out of North Saint Paul, Minnesota. The loan was granted and they received $600,000 to help grow their Maplewood, Minnesota business.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
MAPLEWOOD, MN 55109
SBA Loan Lender
ANCHOR BANK HERITAGE
2700 E 7TH AVE
NORTH SAINT PAUL, MN 55109
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
722211 - Limited-Service Restaurants
Loan Approval Date
7/19/2001
Loan Approval Gross Amount
$600,000
Loan Approval from the SBA
Of the total $600,000 loan amount, the SBA guaranteed $450,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 20 employees. This SBA loan request did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
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:
Banking Deregulation's Effects on Entrepreneurship
Best Banks for Small Business in North Saint Paul, Minnesota
Find an SBA Lender in Minnesota