Commercial Loans for Lessors of Nonresidential Buildings

With these commercial loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $272,000 was given to a Washington entrepreneur in 2007.

This small business knew how to go about getting a business bank loan. Based in Oak Harbor, Washington, they applied for and were awarded an SBA-guaranteed loan in 2007. The lending bank was Peoples Bank, based in Lynden, Washington.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
OAK HARBOR, WA 98277

SBA Loan Lender

PEOPLES BANK
418 GROVER ST
LYNDEN, WA 98264

This SBA loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

5/24/2007

Loan Approval Gross Amount

$272,000

Loan Approval from the SBA

Of the total $272,000 loan amount, the SBA guaranteed $136,000.

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 7 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 7 existing jobs.

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

If you are wondering how to raise money for a business in Oak Harbor WA, you ought to talk with a local Oak Harbor SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Oak Harbor businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Peoples Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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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