SBA Loan from Bank Of America Helps Full-Service Restaurants Company

Bank Of America and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level.

This growing company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Bank Of America, out of Charlotte, North Carolina. The loan was granted and they received $14,400 to help grow their Spokane, Washington business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
SPOKANE, WA 99223

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

722110 - Full-Service Restaurants

Loan Approval Date

1/24/2007

Loan Approval Gross Amount

$14,400

Loan Approval from the SBA

Of the total $14,400 loan amount, the SBA guaranteed $7,200.

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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.

Next Steps for Getting an SBA Loan

If you are wondering how to find money to start a business or need money to grow a business, an SBA loan can be a great way to raise money

This SBA loan was for $14,400. How would you spend $14,400 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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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