Bainbridge Island, Washington Business Gets SBA-Guaranteed Funding from Kitsap Bank

Kitsap 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 Washington entrepreneur who tapped into the power of SBA loans.

This business received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Kitsap Bank, out of Port Orchard, Washington. The loan was granted and they received $270,000 to help grow their Bainbridge Island, Washington business.

SBA Loan Borrower

COMPANY TYPE: WOMEN'S CLOTHING STORES
BAINBRIDGE ISLAND, WA 98110

SBA Loan Lender

KITSAP BANK
619 BAY ST
PORT ORCHARD, WA 98366

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448120 - Women's Clothing Stores

Loan Approval Date

7/27/2001

Loan Approval Gross Amount

$270,000

Loan Approval from the SBA

Of the total $270,000 loan amount, the SBA guaranteed $202,500.

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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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.

Related Links:

Business Cash Advances

Best Banks for Small Business in Port Orchard, Washington

Washington SBA 7A Lenders