Snack and Nonalcoholic Beverage Bars Bank Loans
With these bank loans for snack and nonalcoholic beverage bars, the SBA guarantees the lender that the loan will be repaid. This snack and nonalcoholic beverage bars loan for $53,000 was given to a Washington entrepreneur in 2007.
This company received financial assistance through the SBA's lending programs back in 2007. They applied for an SBA loan with First Heritage Bank, out of Snohomish, Washington. The loan was granted and they received $53,000 to help grow their Gold Bar, Washington business.
SBA Loan Borrower
COMPANY TYPE: SNACK AND NONALCOHOLIC BEVERAGE BARS
Gold Bar, WA 98251
SBA Loan Lender
FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
722213 - Snack and Nonalcoholic Beverage Bars
Loan Approval Date
10/19/2007
Loan Approval Gross Amount
$53,000
Loan Approval from the SBA
Of the total $53,000 loan amount, the SBA guaranteed $45,050.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 3 existing jobs.
Next Steps for Getting an SBA Loan
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like First Heritage Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
Angel Investors
Small Business Banks in Snohomish, Washington
Washington SBA 7A Banks