Snohomish, Washington Bank Gives SBA Loan to Full-Service Restaurants Company

Find Snohomish, Washington banks that specialize in business loans and know how to work with entrepreneurs. First Heritage Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Arlington, Washington starts with an understanding of who else has gotten loans in the area. In this case, a local small business received funding from First Heritage Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
ARLINGTON, WA 98223

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This lender provides SBA small business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

10/29/2002

Loan Approval Gross Amount

$356,500

Loan Approval from the SBA

Of the total $356,500 loan amount, the SBA guaranteed $267,375.

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 2 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 2 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from First Heritage Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Accountant's Role in Securing Financing

Banks in Snohomish, Washington

Getting an SBA Loan in Washington