Business Loan from Northrim Bank Given to Food Preparations Company

Northrim Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Alaska entrepreneur who tapped into the power of SBA loans.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Anchorage, Alaska was able to borrow $100,000 from Northrim Bank. The SBA made the loan possible by guaranteeing $75,000 of this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD PREPARATIONS
ANCHORAGE, AK 99510

SBA Loan Lender

NORTHRIM BANK
3111 'C' ST
ANCHORAGE, AK 99503

This SBA loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan guaranty requests to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2099 - Food Preparations

Loan Approval Date

2/11/2000

Loan Approval Gross Amount

$100,000

Loan Approval from the SBA

Of the total $100,000 loan amount, the SBA guaranteed $75,000.

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 4 employees. The loan application did not indicate that the SBA funding recipient 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?

If you have been wondering how do i get money to start a 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Northrim Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Northrim Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Financing Your Business

Find an SBA Lender in Anchorage, Alaska

Alaska SBA 7A Lenders