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May 11, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > Waverly, Business Loans > Citizens St. Bank - Waverly (inc Waverly Business Loans > Full-Service Restaurants Loan | ||||
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SBA 7A Banks That Lend to Minnesota Small Business Owners
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Minnesota Small Business Loan Issued to Full-Service Restaurants CompanySBA loans in Minnesota are tough to come by these days. We take a look at one Minnesota SBA loan, provided by a Minnesota bank, that was approved by the SBA. This small business, based in Montrose, Minnesota, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citizens St. Bank - Waverly (inc. We've got the inside scoop on this Minnesota small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender CITIZENS ST. BANK - WAVERLY (INC The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide debt financing to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 4/14/2003 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 not for a franchise. At the time of the loan, the company had 28 employees. The loan application did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. This SBA loan was for $245,000. How would you spend $245,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: Best Banks for Small Business in Waverly, Minnesota SBA Participating Banks in Minnesota
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