Peoples Bank Gives Bank Loan to Boat Building And Repairing Company

Want a Washington bank loan? This Washington entrepreneur got a bank loan, provided by a Washington bank that works with the SBA to help small business owners.

Getting a small business loan in Bellingham, Washington was a top priority for this loan applicant back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Peoples Bank. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: BOAT BUILDING AND REPAIRING
BELLINGHAM, WA 98225

SBA Loan Lender

PEOPLES BANK
418 GROVER ST
LYNDEN, WA 98264

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide small business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3732 - Boat Building and Repairing

NAICS Code

336612 - Boat Building

Loan Approval Date

1/19/2001

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. This SBA loan request did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

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:

Microlending as a Small Business Funding Source

SBA 7A Banks in Lynden, Washington

Getting an SBA Loan in Washington