Covington, WA Entrepreneur Gets SBA Loan to Buy Taco Del Mar Franchise

Need money to buy a Taco Del Mar franchise? City Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Taco Del Mar franchise? If so, here's a 2007 SBA franchise loan that you should know about. City Bank was the lender and the entrepreneur was based in Covington, Washington.

SBA Loan Borrower

TACO DEL MAR
COVINGTON, WA 98042

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/5/2007

Loan Approval Gross Amount

$91,300

Loan Approval from the SBA

Of the total $91,300 loan amount, the SBA guaranteed $77,605.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Taco Del Mar franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 3 new jobs and retain 4 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from City Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Taco Del Mar

The Art of Bootstrapping

Where to Get an SBA Loan in Lynnwood, Washington

Getting an SBA Loan in Washington