Financing for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? The SBA may be the answer. This $509,000 limited-service restaurants loan was issued by a Washington bank.

This business knew how to go about getting a business bank loan. Based in Kent, Washington, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Pacific International Bank, based in Seattle, Washington.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
KENT, WA 98033

SBA Loan Lender

PACIFIC INTERNATIONAL BANK
1155 N 130TH ST, STE 100
SEATTLE, WA 98133

This lender provides SBA guaranteed bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/28/2007

Loan Approval Gross Amount

$509,000

Loan Approval from the SBA

Of the total $509,000 loan amount, the SBA guaranteed $381,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan documents indicated that the loan would help retain 4 existing jobs.

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

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

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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