Company Gets an Alaska Small Business Loan

SBA loans in Alaska are are few and far betweeen these days. We take a look at one Alaska SBA loan, provided by an Alaska bank, that was approved by the SBA.

Getting a small business loan in Big Lake, Alaska was a top priority for this particular business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Northrim Bank. Here are the details on this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
BIG LAKE, AK 99652

SBA Loan Lender

NORTHRIM BANK
3111 'C' ST
ANCHORAGE, AK 99503

This business loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

1/3/2002

Loan Approval Gross Amount

$1,150,000

Loan Approval from the SBA

Of the total $1,150,000 loan amount, the SBA guaranteed $862,500.

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 3 employees. The loan application did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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

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