Washington 1st Internatl SBA Loan to Durable Goods Merchant Wholesalers Company

Washington 1st Internatl and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level.

This growing company knew how to go about getting a business bank loan. Based in Kirkland, Washington, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Washington 1st Internatl, based in Seattle, Washington.

SBA Loan Borrower

COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS
KIRKLAND, WA 98033

SBA Loan Lender

WASHINGTON 1ST INTERNATL
9709 3RD AVE NE, STE 110
SEATTLE, WA 98115

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423990 - Durable Goods Merchant Wholesalers

Loan Approval Date

4/5/2007

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $675,000.

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 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Washington 1st Internatl and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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