Raising Money for Limited-Service Restaurants

With these bank loans for limited-service restaurants, the SBA guarantees the lender that the loan will be repaid. This limited-service restaurants loan for $206,000 was given to a Washington entrepreneur in 2006.

This company received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with City Bank, out of Lynnwood, Washington. The loan was granted and they received $206,000 to help grow their Federal Way, Washington business.

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
FEDERAL WAY, WA 98003

SBA Loan Lender

CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087

This small business loan was underwritten by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722211 - Limited-Service Restaurants

Loan Approval Date

11/27/2006

Loan Approval Gross Amount

$206,000

Loan Approval from the SBA

Of the total $206,000 loan amount, the SBA guaranteed $154,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 5 employees. This SBA loan request did not indicate that the business planned to use the loan proceeds to hire new employees or retain any existing employees.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

This SBA loan was for $206,000. How would you spend $206,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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

SBA Banks in Lynnwood, Washington

Washington SBA 7A Lenders