Limited-Service Restaurants Loans

With these loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $628,000 was given to a Washington entrepreneur in 2008.

This company received financial assistance through the SBA's lending programs back in 2008. They applied for an SBA loan with Innovative Bank, out of Oakland, California. The loan was granted and they received $628,000 to help grow their Longview, Washington business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LONGVIEW, WA 98632

SBA Loan Lender

INNOVATIVE BANK
360 14TH ST
OAKLAND, CA 94612

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

1/31/2008

Loan Approval Gross Amount

$628,000

Loan Approval from the SBA

Of the total $628,000 loan amount, the SBA guaranteed $471,000.

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 loan application indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

We've showcased information on this loan to let you know that businesses like yours 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:

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SBA Approved Banks in Oakland, California

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