Washington Business Loan Issued to Physical, Occupational And Speech Therapists, And Audiologists Company

Small business loans in Washington are are few and far betweeen these days. We take a look at one Washington small business loan, provided by a Washington bank, that was approved by the SBA.

By giving the right information to Whidbey Island Bank, this Oak Harbor, Washington business was able to get an SBA loan. To get this loan, the loan applicant gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: PHYSICAL, OCCUPATIONAL AND SPEECH THERAPISTS, AND AUDIOLOGISTS
OAK HARBOR, WA 98277

SBA Loan Lender

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

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

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

621340 - Physical, Occupational and Speech Therapists, and Audiologists

Loan Approval Date

5/19/2003

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for 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 1 new job and retain 2 existing jobs.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a company 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.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Whidbey Island Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Whidbey Island 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:

Borrowing Money from Friends and Family

Good Banks for Small Business in Oak Harbor, Washington

Washington SBA Bank Lenders