Burlington, Washington Business Gets SBA-Guaranteed Funding from Whidbey Island Bank

Whidbey Island Bank has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them.

This business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Whidbey Island Bank, out of Burlington, Washington. The loan was granted and they received $126,000 to help grow their Burlington, Washington business.

SBA Loan Borrower

COMPANY TYPE: BEER AND ALE MERCHANT WHOLESALERS
Burlington, WA 98233

SBA Loan Lender

WHIDBEY ISLAND BANK
1266 BOUSLOG RD
BURLINGTON, WA 98233

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

424810 - Beer and Ale Merchant Wholesalers

Loan Approval Date

1/23/2006

Loan Approval Gross Amount

$126,000

Loan Approval from the SBA

Of the total $126,000 loan amount, the SBA guaranteed $107,100.

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 4 employees. This SBA loan request indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

SBA loans provide smart, affordable business financing for small businesses looking to expand.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Whidbey Island Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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Washington SBA 7A Banks