Snohomish, Washington Bank Gives SBA Loan to Supermarkets And Grocery Stores Company

Get to know Snohomish, Washington banks that specialize in small business loans and know how to work with entrepreneurs. First Heritage Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Marysville, Washington starts with an understanding of who else has gotten loans in the area. In this case, a local firm received funding from First Heritage Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: SUPERMARKETS AND GROCERY STORES
MARYSVILLE, WA 98270

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445110 - Supermarkets and Grocery Stores

Loan Approval Date

3/31/2005

Loan Approval Gross Amount

$249,000

Loan Approval from the SBA

Of the total $249,000 loan amount, the SBA guaranteed $186,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. 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.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Heritage Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Heritage Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Advice on Getting a Small Business Loan

Best Snohomish, Washington Banks for Small Business

SBA Washington Lenders