Small Business Loans for Limited-Service Restaurants

With these small business loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $39,400 was given to a Washington entrepreneur in 2004.

Getting a small business loan in Sedro Woolley, Washington was important for this company back in 2004 and, based on their loan application, they were successful in getting an SBA loan from Whidbey Island Bank, operating out of Oak Harbor, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
SEDRO WOOLLEY, WA 98284

SBA Loan Lender

WHIDBEY ISLAND BANK
450 SW BAYSHORE DR
OAK HARBOR, WA 98277

This lender issued this particular loan for a small business under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/13/2004

Loan Approval Gross Amount

$39,400

Loan Approval from the SBA

Of the total $39,400 loan amount, the SBA guaranteed $33,490.

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 3 employees. The SBA loan documents did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

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

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Whidbey Island Bank 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.

Related Links:

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