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November 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Oak Harbor, Business Loans > Whidbey Island Bank Oak Harbor Business Loans > Drinking Places Loan | ||||
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Bellingham, Washington Bank for SBA Loans
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Bellingham, Washington Entrepreneur Gets a Small Business LoanWant a Washington small business loan? This Washington entrepreneur got a small business loan, provided by a Washington bank that works with the SBA to help small business owners. By giving the right information to Whidbey Island Bank, this Bellingham, Washington business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: DRINKING PLACES SBA Loan Lender WHIDBEY ISLAND BANK This lender issued this particular business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722410 - Drinking Places Loan Approval Date 5/26/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 15 employees. This SBA loan request did not indicate that the company promised to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Whidbey Island 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: SBA 7A Banks for Oak Harbor, Washington Loans
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