Getting an SBA Loan for Masonry Contractors

With these commercial loans for masonry contractors, the SBA guarantees the lender that the loan will be repaid. This masonry contractors loan for $300,000 was given to a Washington entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Bellingham, Washington was able to borrow $300,000 from Peoples Bank. The SBA made the loan possible by guaranteeing $150,000 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: MASONRY CONTRACTORS
BELLINGHAM, WA 98226

SBA Loan Lender

PEOPLES BANK
418 GROVER ST
LYNDEN, WA 98264

This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

238140 - Masonry Contractors

Loan Approval Date

3/28/2006

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $150,000.

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 15 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 15 existing jobs.

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

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

We can help you find the best banks for small businesses in Bellingham or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

SBIR Funding

SBA Participating Banks in Lynden, Washington

SBA Lenders in Washington