Getting an SBA Loan for Finfish Fishing

Looking for commercial loans for finfish fishing? An SBA loan may be just what you've been looking for. This $85,000 finfish fishing loan was issued by an Alaska bank.

This small business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First National Bank Alaska, out of Cordova, Alaska. The loan was granted and they received $85,000 to help grow their Cordova, Alaska business.

SBA Loan Borrower

COMPANY TYPE: FINFISH FISHING
CORDOVA, AK 99574

SBA Loan Lender

FIRST NATIONAL BANK ALASKA
528 FIRST ST
CORDOVA, AK 99574

This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

114111 - Finfish Fishing

Loan Approval Date

6/3/2002

Loan Approval Gross Amount

$85,000

Loan Approval from the SBA

Of the total $85,000 loan amount, the SBA guaranteed $72,250.

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 2 employees. This SBA loan request did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

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

Remember, you 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.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Getting a Small Business Loan

Good Banks for Small Business in Cordova, Alaska

Browse All Business Loan Sources for Alaska