Financing for Limited-Service Restaurants
With these commercial loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $45,000 was given to a New York entrepreneur in 2007.
This small business knew how to go about getting a business bank loan. Based in Long Island City, New York, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Washington Mutual Bank, based in Henderson, Nevada.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LONG ISLAND CITY, NY 11101
SBA Loan Lender
WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014
The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.
SBA Loan Program Type
This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
6/25/2007
Loan Approval Gross Amount
$45,000
Loan Approval from the SBA
Of the total $45,000 loan amount, the SBA guaranteed $22,500.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.
Getting an SBA Loan For Your Business
SBA loans provide smart, affordable business financing for small businesses looking to expand.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Investor Turnoffs
Small Business Banks in Henderson, Nevada
SBA Participating Banks in Nevada