Bellingham, Washington Bank Lends Money to Roofing, Siding, And Sheet Metal Contractors Company in Lynden, Washington

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

Applying for an SBA loan with Horizon Bank worked out well for our friends at one local firm in Lynden, Washington. The business was able to get an SBA loan for $80,000. Way to go!

SBA Loan Borrower

COMPANY TYPE: ROOFING, SIDING, AND SHEET METAL CONTRACTORS
LYNDEN, WA 98264

SBA Loan Lender

HORIZON BANK
1500 CORNWALL AVE
BELLINGHAM, WA 98225

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

235610 - Roofing, Siding, and Sheet Metal Contractors

Loan Approval Date

11/4/2002

Loan Approval Gross Amount

$80,000

Loan Approval from the SBA

Of the total $80,000 loan amount, the SBA guaranteed $68,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan documents did not indicate that the company planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

While you may be able to borrow money from friends and family, 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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