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April 29, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Centralia, Business Loans > Security State Bank Centralia Business Loans > Limited-Service Restaurants Loan | ||||
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How Hard Is It to Get a Small Business Loan in Seattle, Washington?
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Financing for Limited-Service RestaurantsLooking for loans for limited-service restaurants? Talk to a banker who works with the SBA. This $59,600 limited-service restaurants loan was issued by a Washington bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seattle, Washington was able to borrow $59,600 from Security State Bank. The SBA made the loan possible by guaranteeing $50,660 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender SECURITY STATE BANK This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722211 - Limited-Service Restaurants Loan Approval Date 7/29/2005 Loan Approval Gross Amount $59,600 Loan Approval from the SBA Of the total $59,600 loan amount, the SBA guaranteed $50,660. 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 6 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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 Centralia, Washington
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