Borrowing Money for Limited-Service Restaurants

With these loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $31,500 was given to a Washington entrepreneur in 2003.

Getting a small business loan in Vancouver, Washington was important for this company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Columbia Community Cu, operating out of Vancouver, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
VANCOUVER, WA 98684

SBA Loan Lender

COLUMBIA COMMUNITY CU
703 BROADWAY ST, STE 500
VANCOUVER, WA 98660

This was a Low Documentation SBA loan. The SBA launched this program to reduce the paperwork associated with getting a loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

9/30/2003

Loan Approval Gross Amount

$31,500

Loan Approval from the SBA

Of the total $31,500 loan amount, the SBA guaranteed $26,775.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the company promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Obtaining Funding - How to Borrow Money

Good Banks for Small Business in Vancouver, Washington

Getting a Business Loan in Washington