First Heritage Bank SBA Loan to Logging Company

First Heritage Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Darrington, Washington was an essential business goal for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from First Heritage Bank, operating out of Snohomish, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: LOGGING
DARRINGTON, WA 98223

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

113310 - Logging

Loan Approval Date

9/1/2005

Loan Approval Gross Amount

$118,500

Loan Approval from the SBA

Of the total $118,500 loan amount, the SBA guaranteed $100,725.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 4 existing jobs.

Start the Process for Getting an SBA Loan Today!

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

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.

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