Borrowing Money for Drinking Places

With these small business loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $447,550 was given to a Washington entrepreneur in 2003.

This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Prime Pacific Bank, Na, out of Lynnwood, Washington. The loan was granted and they received $447,550 to help grow their Arlington, Washington business.

SBA Loan Borrower

COMPANY TYPE: DRINKING PLACES
ARLINGTON, WA 98223

SBA Loan Lender

PRIME PACIFIC BANK, NA
4710 196TH ST SW
LYNNWOOD, WA 98036

This commercial loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA provides a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722410 - Drinking Places

Loan Approval Date

7/29/2003

Loan Approval Gross Amount

$447,550

Loan Approval from the SBA

Of the total $447,550 loan amount, the SBA guaranteed $335,663.

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 50 employees. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source

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 Prime Pacific Bank, Na 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:

Accountant's Role in Securing Financing

Where to Get an SBA Loan in Lynnwood, Washington

Getting a Business Loan in Washington