Commercial Loans for Snack and Nonalcoholic Beverage Bars

Looking for commercial loans for snack and nonalcoholic beverage bars? The SBA may be the answer. This $68,300 snack and nonalcoholic beverage bars loan was issued by a Washington bank.

This business knew how to go about getting a business bank loan. Based in Bellingham, Washington, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Whidbey Island Bank, based in Burlington, Washington.

SBA Loan Borrower

COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
Bellingham, WA 98225

SBA Loan Lender

WHIDBEY ISLAND BANK
1266 BOUSLOG RD
BURLINGTON, WA 98233

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722213 - Snack and Nonalcoholic Beverage Bars

Loan Approval Date

6/8/2006

Loan Approval Gross Amount

$68,300

Loan Approval from the SBA

Of the total $68,300 loan amount, the SBA guaranteed $58,055.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

If you need emergency money for small business, 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.

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