Washington Entrepreneur Secures Financing to Buy Taco Del Mar Franchise
Need a loan to purchase 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 2002 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
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
10/11/2002
Loan Approval Gross Amount
$121,000
Loan Approval from the SBA
Of the total $121,000 loan amount, the SBA guaranteed $102,850.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was used to buy a Taco Del Mar franchise. At the time of the loan, the company
had 6 employees. The loan application indicated that the funding would help generate 6 new jobs.
Next Steps for Getting an SBA Loan
Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.
Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.
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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