Business Loan from City Bank Given to Eating Places Company
An SBA loan from City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Port Orchard, Washington business owner got a $90,000 loan.
Getting a small business loan in Port Orchard, Washington was an essential business goal for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from City Bank, operating out of Lynnwood, Washington. Here are the details on this Washington small business loan.
SBA Loan Borrower
COMPANY TYPE: EATING PLACES
PORT ORCHARD, WA 98336
SBA Loan Lender
CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087
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.
SIC Code
5812 - Eating Places
NAICS Code
722110 - Full-Service Restaurants
Loan Approval Date
8/1/2000
Loan Approval Gross Amount
$90,000
Loan Approval from the SBA
Of the total $90,000 loan amount, the SBA guaranteed $72,000.
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 SBA loan documents indicated that the loan would help retain 2 existing jobs.
Getting an SBA Loan For Your Business
If you need money to start a small business or need money for an existing business, an SBA loan can be a great funding source
The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.
The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.
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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