Business Loans for Limited-Service Restaurants
With these business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $75,000 was given to a Washington entrepreneur in 2004.
This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with City Bank, out of Lynnwood, Washington. The loan was granted and they received $75,000 to help grow their Lynnwood, Washington business.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
LYNNWOOD, WA 98037
SBA Loan Lender
CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087
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
6/8/2004
Loan Approval Gross Amount
$75,000
Loan Approval from the SBA
Of the total $75,000 loan amount, the SBA guaranteed $63,750.
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 application for the borrower indicated that the borrowed money would help create 12 new jobs.
Next Steps for Getting an SBA Loan
For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.
The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like City Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.
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:
The Friends and Family Network
SBA Participating Banks in Lynnwood, Washington
Washington SBA 7A Banks