Everett, Washington Business Gets SBA-Guaranteed Funding from Prime Pacific Bank, Na

Prime Pacific Bank, Na is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Washington entrepreneur who tapped into the power of SBA loans.

This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Prime Pacific Bank, Na, out of Lynnwood, Washington. The loan was granted and they received $118,300 to help grow their Everett, Washington business.

SBA Loan Borrower

COMPANY TYPE: SPECIALTY FOOD STORES
EVERETT, WA 98201

SBA Loan Lender

PRIME PACIFIC BANK, NA
4710 196TH ST SW
LYNNWOOD, WA 98036

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with appliying for an SBA 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. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445299 - Specialty Food Stores

Loan Approval Date

1/2/2002

Loan Approval Gross Amount

$118,300

Loan Approval from the SBA

Of the total $118,300 loan amount, the SBA guaranteed $100,555.

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 14 employees. The SBA loan application for the borrower did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

This SBA loan was for $118,300. How would you spend $118,300 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Strategic Investors

Where to Get an SBA Loan in Lynnwood, Washington

SBA Participating Banks in Washington