Poulsbo, Washington Business Gets SBA-Guaranteed Funding from Cathay Bank

An SBA loan from Cathay Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Poulsbo, Washington business owner got a $260,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Poulsbo, Washington, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Cathay Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
POULSBO, WA 98370

SBA Loan Lender

CATHAY BANK
777 N BROADWAY
LOS ANGELES, CA 90012

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This business loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

6/17/2005

Loan Approval Gross Amount

$260,000

Loan Approval from the SBA

Of the total $260,000 loan amount, the SBA guaranteed $195,000.

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 2 employees. The SBA loan documents did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

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

This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer 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.

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