 |
 |
May 4, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Minneapolis, Business Loans > Northeast Bank Minneapolis Business Loans > Eating Places Loan | ||||
 |
||||
Tips for Small Businesses On Getting a Loan
|
||||
 |
Get an SBA Loan for Limited-Service RestaurantsLooking for small business loans for limited-service restaurants? Talk to a banker who works with the SBA. This $150,000 limited-service restaurants loan was issued by a Minnesota bank. Getting a small business loan in Minneapolis, Minnesota was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Northeast Bank, operating out of Minneapolis, Minnesota. Here are the details on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender NORTHEAST BANK This lender issued this particular SBA 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 12/12/2002 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 a new 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 8 employees. The SBA loan documents did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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 $150,000 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 Banks in Minneapolis, Minnesota
|
|
||
|
||||
|
|
||||