Mobile Food Services Business Loans

Looking for business loans for mobile food services? The SBA may be the answer. This $54,625 mobile food services loan was issued by a Washington bank.

This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Seattle Economic Devel Fund Db, out of Seattle, Washington. The loan was granted and they received $54,625 to help grow their Seattle, Washington business.

SBA Loan Borrower

COMPANY TYPE: MOBILE FOOD SERVICES
SEATTLE, WA 98188

SBA Loan Lender

SEATTLE ECONOMIC DEVEL FUND DB
1437 SOUTH JACKSON, SUITE 302
SEATTLE, WA 98144

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722330 - Mobile Food Services

Loan Approval Date

4/19/2004

Loan Approval Gross Amount

$54,625

Loan Approval from the SBA

Of the total $54,625 loan amount, the SBA guaranteed $46,431.

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 3 employees. This SBA loan request did not indicate that the business promised to use the money to add employees or retain any existing employees.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Seattle, Washington

SBA Participating Banks in Washington