Getting an SBA Loan for Limited-Service Restaurants

With these SBA loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $85,000 was given to a Washington entrepreneur in 2001.

This business knew how to go about getting a business bank loan. Based in Lynnwood, Washington, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was City Bank, based in Lynnwood, Washington.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LYNNWOOD, WA 98036

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

This lender provides SBA 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

7/6/2001

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 2 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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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Best Lynnwood, Washington Banks for Small Business

Getting an SBA Loan in Washington