Entrepreneur Works With Bellingham, Washington Bank to Get an SBA Loan

Want to talk with a Bellingham, Washington bank about an SBA loan? Here's one Washington business loan, issued by a Bellingham bank, that was approved by the SBA.

Applying for an SBA loan with Bank Of The Pacific worked out well for our friends at one local firm in Ferndale, Washington. The business was able to get an SBA loan for $60,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: SINGLE FAMILY HOUSING CONSTRUCTION
FERNDALE, WA 98248

SBA Loan Lender

BANK OF THE PACIFIC
100 GRAND AVE
BELLINGHAM, WA 98225

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233210 - Single Family Housing Construction

Loan Approval Date

5/8/2002

Loan Approval Gross Amount

$60,000

Loan Approval from the SBA

Of the total $60,000 loan amount, the SBA guaranteed $51,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

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

If you have been wondering how do i get money to start a business in Ferndale WA, you ought to talk with a local Ferndale SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Ferndale businesses.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Bank Of The Pacific so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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 - How to Borrow Money

Best Banks for Small Business in Bellingham, Washington

SBA Lenders in Washington