Where to Get Capital for Limited-Service Restaurants

Looking for small business loans for limited-service restaurants? The SBA may be the answer. This $538,000 limited-service restaurants loan was issued by a Washington bank.

This small firm knew how to go about getting a business bank loan. Based in Mukilteo, Washington, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Prime Pacific Bank, Na, based in Lynnwood, Washington.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
MUKILTEO, WA 98275

SBA Loan Lender

PRIME PACIFIC BANK, NA
4710 196TH ST SW
LYNNWOOD, WA 98036

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

5/25/2007

Loan Approval Gross Amount

$538,000

Loan Approval from the SBA

Of the total $538,000 loan amount, the SBA guaranteed $403,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 16 employees. This SBA loan request indicated that the loan would help retain 16 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

If you need money to start business in Mukilteo WA, you ought to talk with a local Mukilteo SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Mukilteo businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $538,000 loan. Remember, where there is a will, there is a way!

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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