Bellingham, Washington Business Gets SBA-Guaranteed Funding from Skagit State Bank

An SBA loan from Skagit State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Bellingham, Washington business owner got a $410,000 loan.

This small firm knew how to go about getting a business bank loan. Based in Bellingham, Washington, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was Skagit State Bank, based in Burlington, Washington.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
BELLINGHAM, WA 98225

SBA Loan Lender

SKAGIT STATE BANK
301 E FAIRHAVEN AVE
BURLINGTON, WA 98233

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

5/15/2003

Loan Approval Gross Amount

$410,000

Loan Approval from the SBA

Of the total $410,000 loan amount, the SBA guaranteed $307,500.

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 20 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $410,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Bank Credit Lines

SBA 7A Banks in Burlington, Washington

SBA Participating Banks in Washington