Prime Pacific Bank, Na SBA Loan to Automotive Services Company

An SBA loan from Prime Pacific Bank, Na typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Lakewood, Washington business owner got a $120,677 loan.

Getting a small business loan in Lakewood, Washington was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Prime Pacific Bank, Na, operating out of Lynnwood, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: AUTOMOTIVE SERVICES
LAKEWOOD, WA 98499

SBA Loan Lender

PRIME PACIFIC BANK, NA
4710 196TH ST SW
LYNNWOOD, WA 98036

When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to give speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7549 - Automotive Services

NAICS Code

811198 - Automotive Repair and Maintenance

Loan Approval Date

12/22/2000

Loan Approval Gross Amount

$120,677

Loan Approval from the SBA

Of the total $120,677 loan amount, the SBA guaranteed $90,507.

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 only one employee. The SBA loan application for the borrower did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

Every year, the SBA guarantees over $10 billion for loans just like this one.

While you may be able to find business people willing to loan money, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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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