Ketchikan, Alaska Business Gets SBA-Guaranteed Funding from First Bank

First Bank has a track record as a leading provider of SBA loans. Find out how this Alaska entrepreneur received an SBA loan from them.

Getting a small business loan in Ketchikan, Alaska was an essential business goal for this small business back in 2002 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: MEDICAL LABORATORIES
KETCHIKAN, AK 99901

SBA Loan Lender

FIRST BANK
331 DOCK ST
KETCHIKAN, AK 99901

This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

621511 - Medical Laboratories

Loan Approval Date

8/23/2002

Loan Approval Gross Amount

$390,000

Loan Approval from the SBA

Of the total $390,000 loan amount, the SBA guaranteed $292,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $390,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

The Art of Bootstrapping

SBA Approved Banks in Ketchikan, Alaska

Getting an SBA Loan in Alaska