Firm Gets a Washington Small Business Loan
WashingtonSmall business loans are available to Washington small business owners through the SBA. In this case, a Washington bank provides the loan.
Getting a small business loan in Darrington, Washington was a top priority for this small company back in 2006 and, based on their loan application, they were successful in getting an SBA loan from First Heritage Bank. Here are the details on this Washington small business loan.
SBA Loan Borrower
COMPANY TYPE: FULL-SERVICE RESTAURANTS
DARRINGTON, WA 98241
SBA Loan Lender
FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290
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
722110 - Full-Service Restaurants
Loan Approval Date
7/26/2006
Loan Approval Gross Amount
$558,400
Loan Approval from the SBA
Of the total $558,400 loan amount, the SBA guaranteed $418,800.
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 13 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 10 existing jobs.
Start the Process for Getting an SBA Loan Today!
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Obtaining Funding - Friends and Family
Banks in Snohomish, Washington
Washington SBA 7A Lenders