Raising Money for Commercial and Service Industry Machinery Manufacturing

Looking for bank loans for commercial and service industry machinery manufacturing? Talk to a banker who works with the SBA. This $500,000 commercial and service industry machinery manufacturing loan was issued by a Washington bank.

Getting a small business loan in Bellevue, Washington was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Mutual Bank, operating out of Bellevue, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL AND SERVICE INDUSTRY MACHINERY MANUFACTURING
BELLEVUE, WA 98005

SBA Loan Lender

FIRST MUTUAL BANK
400 108TH AVE NE
BELLEVUE, WA 98004

This lender issued this bank loan under the SBA 7A lending program , 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

333319 - Commercial and Service Industry Machinery Manufacturing

Loan Approval Date

7/25/2005

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $450,000.

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 32 employees. The loan application did not indicate that the small business promised to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Mutual Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Mutual 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:

Find Start-Up Capital

Find an SBA Lender in Bellevue, Washington

SBA Participating Banks in Washington