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May 3, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Spokane, Business Loans > Washington Trust Bank Spokane Business Loans > Full-Service Restaurants Loan | ||||
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Hayden, Idaho Bank Loan
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How to Get a Loan for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $150,000 full-service restaurants loan was issued by a Washington bank. This small business knew how to go about getting a business bank loan. Based in Hayden, Idaho, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Washington Trust Bank, based in Spokane, Washington. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender WASHINGTON TRUST BANK This lender issued this particular loan 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 722110 - Full-Service Restaurants Loan Approval Date 4/23/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Washington Trust Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: SBA 7A Banks in Spokane, Washington
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