Entrepreneur Works With Lakewood, Washington Bank to Get an SBA Loan

Thinking about meeting with a Lakewood, Washington bank about a small business loan? Here's one Washington business loan, issued by a Lakewood bank, that was approved by the SBA.

Applying for an SBA loan with Northwest Commercial Bank worked out well for our friends at one local business in Lakewood, Washington. They got an SBA loan for $394,440. Nice!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LAKEWOOD, WA 98499

SBA Loan Lender

NORTHWEST COMMERCIAL BANK
5726 100TH ST SW
LAKEWOOD, WA 98499

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

8/2/2006

Loan Approval Gross Amount

$394,440

Loan Approval from the SBA

Of the total $394,440 loan amount, the SBA guaranteed $295,830.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 documents did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $394,440 loan. Remember, anyone can do it... so why not you?

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:

Getting a Small Business Loan

Small Bank Loans in Lakewood, Washington

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