First Bank SBA Loan to Art Dealers Company

First Bank 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 Alaska entrepreneur who tapped into the power of SBA loans.

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

SBA Loan Borrower

COMPANY TYPE: ART DEALERS
KETCHIKAN, AK 99901

SBA Loan Lender

FIRST BANK
331 DOCK ST
KETCHIKAN, AK 99901

This lender issued this particular bank loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453920 - Art Dealers

Loan Approval Date

5/10/2005

Loan Approval Gross Amount

$112,300

Loan Approval from the SBA

Of the total $112,300 loan amount, the SBA guaranteed $95,455.

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 2 employees. This SBA loan request did not indicate that the SBA funding recipient 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?

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

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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