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May 8, 2024 |
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| Home > Small Business Lenders by State > North Dakota Business Loan Sources > Minneapolis, Business Loans > Wells Fargo Bank Minneapolis Business Loans > Full-Service Restaurants Loan | ||||
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SBA Lenders Minnesota
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Minneapolis, Minnesota Bank Lends Money to Full-Service Restaurants Company in Dickinson, North DakotaThinking about meeting with a Minneapolis, Minnesota bank about an SBA loan? Here's one North Dakota business loan, issued by a Minneapolis bank, that was approved by the SBA. Applying for an SBA loan with Wells Fargo Bank worked out well for our friends at one local business in Dickinson, North Dakota. The business was able to get an SBA loan for $24,300. Nice! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WELLS FARGO BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/11/2002 Loan Approval Gross Amount $24,300 Loan Approval from the SBA Of the total $24,300 loan amount, the SBA guaranteed $12,150. More Information on This SBA Loan The borrower borrowed this money for an existing 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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Wells Fargo Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Banks in Minneapolis, Minnesota
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