SBA Loan from City Bank Helps Convenience Stores Company
City Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Washington entrepreneur who tapped into the power of SBA loans.
This business knew how to go about getting a business bank loan. Based in Mountlake Terrace, Washington, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was City Bank, based in Lynnwood, Washington.
SBA Loan Borrower
COMPANY TYPE: CONVENIENCE STORES
MOUNTLAKE TERRACE, WA 98043
SBA Loan Lender
CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087
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
445120 - Convenience Stores
Loan Approval Date
3/7/2001
Loan Approval Gross Amount
$386,000
Loan Approval from the SBA
Of the total $386,000 loan amount, the SBA guaranteed $289,500.
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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs.
Next Steps for Getting an SBA Loan
Many small businesses receive loans backed by the U.S. Small Business Administration.
This SBA loan was for $386,000. How would you spend $386,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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:
How Much Venture Capital Is There?
Where to Get an SBA Loan in Lynnwood, Washington
Washington SBA Banks