Getting an SBA Loan for Specialty Food Stores

Looking for commercial loans for specialty food stores? An SBA loan may be just what you've been looking for. This $80,600 specialty food stores loan was issued by a Washington bank.

This small business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Viking Bank, out of Seattle, Washington. The loan was granted and they received $80,600 to help grow their Seattle, Washington business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
SEATTLE, WA 98109

SBA Loan Lender

VIKING BANK
4 NICKERSON ST, STE 200
SEATTLE, WA 98109

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

8/22/2001

Loan Approval Gross Amount

$80,600

Loan Approval from the SBA

Of the total $80,600 loan amount, the SBA guaranteed $68,510.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 61 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 61 existing jobs.

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

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Viking Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Banking Deregulation's Effects on Entrepreneurship

Good Banks for Small Business in Seattle, Washington

Washington SBA 7A Lenders