Main Street Registry

Song Restaurant Inc

Lakewood, WA · Limited-Service Restaurants · NAICS 722513

Song Restaurant Inc, located in Lakewood, WA, operates in the limited-service restaurants industry (NAICS 722513). The company was financed with an SBA 7(a) loan for a change of ownership, approved in February 2025 for $760,000 through GBC International Bank, with 6 jobs reported.

SBA 7(a) loan, change of ownership, approved Feb 4, 2025

$760,000 approvedLender: GBC International Bank25 years termStatus not reported (SBA exemption)Loan details
Gross approval
$760,000
SBA-guaranteed amount
$570,000 (75% of the approval)
Lender
GBC International Bank, Los Angeles, CA
Processing method
Preferred Lender Program: lender approved under delegated SBA authority
Initial interest rate
8.5%, variable
Term
25 years (300 months)
Estimated maturity
February 4, 2050 (estimated, approval date plus term)
Estimated monthly payment
$6,120 Estimated payment at the initial rate over the full term; actual terms vary.
First disbursement
Feb 7, 2025
Loan status
Status not reported (SBA exemption)
Jobs supported
6
Business type
Corporation
NAICS
722513, Limited-Service Restaurants
Project location
Pierce County, WA
SBA district office
Seattle District Office
Congressional district
WA-06
Collateral
Yes
Guaranteed portion sold on secondary market
Yes
Revolving line of credit
No (term loan)
  • Larger than 36% of acquisition loans in Limited-Service Restaurants on this site.
  • Average acquisition loan in Limited-Service Restaurants: $1,303,660.
  • Average acquisition loan in Washington: $1,784,595.

Loan amounts are the SBA approval, not a purchase price. Figures labeled estimated are derived on this site and are not published by the SBA.

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Same industry in Washington