Monroe, Washington Business Gets SBA-Guaranteed Funding from First Heritage Bank

First Heritage Bank 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 small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with First Heritage Bank, out of Snohomish, Washington. The loan was granted and they received $722,000 to help grow their Monroe, Washington business.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
MONROE, WA 98272

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This bank loan was issued under the SBA's Certified Lenders Program (CLP), which means that this bank has a successful SBA lending background and a thorough understanding of SBA lending rules and regulations.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5521 - Motor Vehicle Dealers

NAICS Code

441120 - Used Car Dealers

Loan Approval Date

7/23/2002

Loan Approval Gross Amount

$722,000

Loan Approval from the SBA

Of the total $722,000 loan amount, the SBA guaranteed $541,500.

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 9 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you have been wondering how do i get money to start a business in Monroe WA, you ought to talk with a local Monroe SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Monroe businesses.

We've showcased information on this loan to let you know that businesses like yours 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.

Related Links:

Strategic Investors

SBA 7A Banks in Snohomish, Washington

Washington SBA 7A Lenders