Small Business Loans for Used Merchandise Stores

With these small business loans for used merchandise stores, the SBA guarantees the lender that the loan will be repaid. This used merchandise stores loan for $188,100 was given to a Washington entrepreneur in 2005.

This small firm knew how to go about getting a business bank loan. Based in Mount Vernon, Washington, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Whidbey Island Bank, based in Oak Harbor, Washington.

SBA Loan Borrower

COMPANY TYPE: USED MERCHANDISE STORES
MOUNT VERNON, WA 98273

SBA Loan Lender

WHIDBEY ISLAND BANK
450 SW BAYSHORE DR
OAK HARBOR, WA 98277

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

453310 - Used Merchandise Stores

Loan Approval Date

7/18/2005

Loan Approval Gross Amount

$188,100

Loan Approval from the SBA

Of the total $188,100 loan amount, the SBA guaranteed $141,075.

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 indicated that the loan would help generate 2 new jobs and retain 1 existing job.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Obtaining Funding - How to Decide How Much to Raise

Small Business Banks in Oak Harbor, Washington

Where to Get an SBA Loan Washington