Getting an SBA Loan for Drinking Places

With these commercial loans for drinking places, the SBA guarantees the lender that the loan will be repaid. This drinking places loan for $168,000 was given to a Washington entrepreneur in 2003.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seattle, Washington was able to borrow $168,000 from Seattle Economic Devel Fund Db. The SBA made the loan possible by guaranteeing $142,800 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: EATING PLACES
SEATTLE, WA 98121

SBA Loan Lender

SEATTLE ECONOMIC DEVEL FUND DB
1437 SOUTH JACKSON, SUITE 302
SEATTLE, WA 98144

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide debt financing to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5812 - Eating Places

NAICS Code

722410 - Drinking Places

Loan Approval Date

7/24/2003

Loan Approval Gross Amount

$168,000

Loan Approval from the SBA

Of the total $168,000 loan amount, the SBA guaranteed $142,800.

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 5 employees. The SBA loan application for the borrower did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Seattle Economic Devel Fund Db that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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