Commercial Loans for Full-Service Restaurants

Looking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $25,000 full-service restaurants loan was issued by an Oregon bank.

This business knew how to go about getting a business bank loan. Based in Ridgefield, Washington, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was West Coast Bank, based in Wilsonville, Oregon.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Ridgefield, WA 98642

SBA Loan Lender

WEST COAST BANK
25977 SW CANYON CREEK RD, STE
WILSONVILLE, OR 97070

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

3/28/2007

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 32 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 35 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $25,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Advice on Getting a Small Business Loan

Small Bank Loans in Wilsonville, Oregon

Oregon SBA Bank Lenders