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May 5, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minnetonka, Business Loans > First Minnesota Bank Minnetonka Business Loans > Steak Escape And Taco John's Loan | ||||
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Minnesota Small Business Funding for Franchises
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Minnesota Entrepreneur Secures Financing to Buy Steak Escape FranchiseNeed a loan to buy a Steak Escape franchise? First Minnesota Bank has a history of making these loans and they are guaranteed by the SBA. If you live near Brooklyn Center, Minnesota and are interested in buying a Steak Escape franchise, you'll be interested to read the details on this SBA franchise loan, issued in 2003 by First Minnesota Bank. Obtaining a franchise loan from a commercial lending institution can be a great way to finance a franchise purchase. SBA Loan Borrower STEAK ESCAPE AND TACO JOHN'S SBA Loan Lender FIRST MINNESOTA BANK This business 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 722211 - Limited-Service Restaurants Loan Approval Date 3/19/2003 Loan Approval Gross Amount $245,000 Loan Approval from the SBA Of the total $245,000 loan amount, the SBA guaranteed $183,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Steak Escape franchise. At the time of the loan, the company had 25 employees. The loan application did not indicate that the small business promised to use the loan proceeds to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like First Minnesota Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 - How to Decide How Much to Raise Best Banks for Small Business in Minnetonka, Minnesota
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