Raising Money for Full-Service Restaurants

Looking for business loans for full-service restaurants? An SBA loan may be just what you've been looking for. This $568,000 full-service restaurants loan was issued by a Washington bank.

This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Regal Financial Bank, out of Seattle, Washington. The loan was granted and they received $568,000 to help grow their Redmond, Washington business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
REDMOND, WA 98052

SBA Loan Lender

REGAL FINANCIAL BANK
925 4TH AVE, STE 100
SEATTLE, WA 98104

This lender issued this SBA loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

9/24/2003

Loan Approval Gross Amount

$568,000

Loan Approval from the SBA

Of the total $568,000 loan amount, the SBA guaranteed $426,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 56 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $568,000 loan. Remember, where there is a will, there is a way!

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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