Main Street Registry

Minnetonka Famous Dave's

Minnetonka, MN · Full-Service Restaurants · NAICS 722511

Minnetonka Famous Dave's is a full-service restaurant in Minnetonka, Minnesota, classified under NAICS 722511. The business was financed with an SBA 7(a) loan for a change of ownership of $1,513,000, approved on September 26, 2025, by Frandsen Bank and Trust. The business is a Famous Dave's franchise.

SBA 7(a) loan, change of ownership, approved Sep 26, 2025

$1,513,000 approvedLender: Frandsen Bank and Trust10 years termStatus not reported (SBA exemption)Loan details
Gross approval
$1,513,000
SBA-guaranteed amount
$1,134,750 (75% of the approval)
Lender
Frandsen Bank and Trust, Arden Hills, MN
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
10%, variable
Term
10 years (120 months)
Estimated maturity
September 26, 2035 (estimated, approval date plus term)
Estimated monthly payment
$19,994 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Oct 14, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
5
Business type
Corporation
NAICS
722511, Full-Service Restaurants
Franchise
Famous Dave's
Project location
Hennepin County, MN
SBA district office
Minnesota District Office
Congressional district
MN-03
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 72% of acquisition loans in Full-Service Restaurants on this site.
  • Average acquisition loan in Full-Service Restaurants: $1,319,601.
  • Average acquisition loan in Minnesota: $1,482,119.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Minnesota