Everett, Washington Bank Gives SBA Loan to Industrial Mold Manufacturing Company

Thinking about meeting with an Everett, Washington bank about a business loan? Here's one Washington business loan, issued by an Everett bank, that was approved by the SBA.

Applying for an SBA loan with Coastal Community Bank worked out well for our friends at one local company in Arlington, Washington. They received an SBA loan for $1,040,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING
ARLINGTON, WA 98223

SBA Loan Lender

COASTAL COMMUNITY BANK
2817 COLBY AVE
EVERETT, WA 98201

This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333511 - Industrial Mold Manufacturing

Loan Approval Date

5/3/2005

Loan Approval Gross Amount

$1,040,000

Loan Approval from the SBA

Of the total $1,040,000 loan amount, the SBA guaranteed $780,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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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