Lynnwood, Washington Bank Gives SBA Loan to Limited-Service Restaurants Company

Thinking about meeting with a Lynnwood, Washington bank about a small business loan? Here's one Washington business loan, issued by a Lynnwood bank, that was approved by the SBA.

Applying for an SBA loan with City Bank worked out well for our friends at one local firm in Bothell, Washington. The business was able to get an SBA loan for $126,600. Sweet!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
BOTHELL, WA 98012

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

3/22/2004

Loan Approval Gross Amount

$126,600

Loan Approval from the SBA

Of the total $126,600 loan amount, the SBA guaranteed $107,610.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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.

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