First Heritage Bank Provides SBA Loan to Buy Century 21 Franchise

Borrowing money to purchase a Century 21 franchise? First Heritage Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Everett, Washington needed money to invest in a Century 21 franchise back in 2002. First Heritage Bank issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

CENTURY 21 NORTH HOMES REALTY
EVERETT, WA 98204

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

531210 - Real Estate Agents and Brokers

Loan Approval Date

12/26/2002

Loan Approval Gross Amount

$120,000

Loan Approval from the SBA

Of the total $120,000 loan amount, the SBA guaranteed $102,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Century 21 franchise. At the time of the loan, the company had 17 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 18 existing jobs.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Heritage Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Heritage Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Century 21 Real Estate Corporation

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SBA 7A Lenders in Snohomish, Washington

SBA Participating Banks in Washington