Small Business Loans for Full-Service Restaurants

With these small business loans for full-service restaurants, the SBA guarantees the lender that the loan will be repaid. This full-service restaurants loan for $115,000 was given to a Washington entrepreneur in 2007.

This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with Pacific City Bank, out of Los Angeles, California. The loan was granted and they received $115,000 to help grow their Seattle, Washington business.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
Seattle, WA 98116

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

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

7/23/2007

Loan Approval Gross Amount

$115,000

Loan Approval from the SBA

Of the total $115,000 loan amount, the SBA guaranteed $57,500.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Seattle or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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