Full-Service Restaurants Loans

Looking for loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $9,800 full-service restaurants loan was issued by a Washington bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Kelso, Washington was able to borrow $9,800 from Twin City Bank. The SBA made the loan possible by guaranteeing $8,330 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
KELSO, WA 98626

SBA Loan Lender

TWIN CITY BANK
729 VANDERCOOK WAY
LONGVIEW, WA 98632

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

4/21/2005

Loan Approval Gross Amount

$9,800

Loan Approval from the SBA

Of the total $9,800 loan amount, the SBA guaranteed $8,330.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 32 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

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.

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 Twin City Bank 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.

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SBA Banks in Longview, Washington

Where to Get an SBA Loan Washington