Loan to Buy Magic Dragon Franchise Issued By Pacific International Bank

Need money to buy a Magic Dragon franchise? Pacific International Bank has a history of making these loans and they are guaranteed by the SBA.

Magic Dragon franchise loans are available to Seattle, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Pacific International Bank, based in Seattle, Washington, issued an SBA franchise loan for a Magic Dragon franchise in 2003. We've got all the details on this Washington small business loan.

SBA Loan Borrower

MAGIC DRAGON CHINESE RESTAURAN
SEATTLE, WA 98108

SBA Loan Lender

PACIFIC INTERNATIONAL BANK
1155 N 130TH ST, STE 100
SEATTLE, WA 98133

The lender provided this SBA business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing.

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

722211 - Limited-Service Restaurants

Loan Approval Date

4/18/2003

Loan Approval Gross Amount

$94,000

Loan Approval from the SBA

Of the total $94,000 loan amount, the SBA guaranteed $47,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Magic Dragon franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 3 new jobs and retain 1 existing job.

Getting an SBA Loan For Your Business

If you need money to start a business or already have a business and need money to expand, an SBA loan can be a great funding source

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 $94,000 loan. Remember, feel the fear, and do it anyway.

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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