SBA Loan from Northrim Bank Helps Business And Secretarial Schools Company

Northrim Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Alaska entrepreneur was able to get a loan to take a small business to the next level.

This small firm knew how to go about getting a business bank loan. Based in Anchorage, Alaska, they applied for and received an SBA-guaranteed loan in 2004. The lending bank was Northrim Bank, based in Anchorage, Alaska.

SBA Loan Borrower

COMPANY TYPE: BUSINESS AND SECRETARIAL SCHOOLS
ANCHORAGE, AK 99503

SBA Loan Lender

NORTHRIM BANK
3111 'C' ST
ANCHORAGE, AK 99503

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8244 - Business and Secretarial Schools

NAICS Code

611410 - Business and Secretarial Schools

Loan Approval Date

2/10/2004

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $42,500.

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 only one employee. The SBA loan documents did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you want money for new small business in Anchorage AK, you ought to talk with a local Anchorage SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Anchorage businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Northrim Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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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