Viking Bank Gives SBA Loan to Full-Service Restaurants Company

Business loans in Washington are hard to find these days. We take a look at one Washington business loan, provided by a Washington bank, that was approved by the SBA.

Getting a small business loan in Mill Creek, Washington was a top priority for this SBA-financed company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Viking Bank. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
MILL CREEK, WA 98012

SBA Loan Lender

VIKING BANK
4 NICKERSON ST, STE 200
SEATTLE, WA 98109

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

11/20/2006

Loan Approval Gross Amount

$383,300

Loan Approval from the SBA

Of the total $383,300 loan amount, the SBA guaranteed $287,475.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 25 new jobs and retain 32 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.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Viking Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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