Getting an SBA Loan for Limited-Service Restaurants

Looking for commercial loans for limited-service restaurants? Talk to a banker who works with the SBA. This $342,000 limited-service restaurants loan was issued by an Oregon bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Salem, Oregon was able to borrow $342,000 from West Coast Bank. The SBA made the loan possible by guaranteeing $256,500 of this Oregon small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SALEM, OR 97201

SBA Loan Lender

WEST COAST BANK
5335 MEADOWS RD
LAKE OSWEGO, OR 97035

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

722211 - Limited-Service Restaurants

Loan Approval Date

6/14/2007

Loan Approval Gross Amount

$342,000

Loan Approval from the SBA

Of the total $342,000 loan amount, the SBA guaranteed $256,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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 $342,000 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.

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