Business Loan from City Bank Given to Limited-Service Restaurants Company

An SBA loan from City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Tacoma, Washington business owner got a $265,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Tacoma, Washington, they applied for and received an SBA-guaranteed loan in 2006. The lending bank was City Bank, based in Lynnwood, Washington.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
TACOMA, WA 98404

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

2/14/2006

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

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 8 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in Tacoma 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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