Where to Get Capital for Multifamily Housing Construction

Looking for SBA loans for multifamily housing construction? The SBA may be the answer. This $150,000 multifamily housing construction loan was issued by a Washington bank.

This business knew how to go about getting a business bank loan. Based in Ocean Park, Washington, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Bank Of The Pacific, based in Ocean Park, Washington.

SBA Loan Borrower

COMPANY TYPE: MULTIFAMILY HOUSING CONSTRUCTION
OCEAN PARK, WA 98640

SBA Loan Lender

BANK OF THE PACIFIC
1802 BAY AVE
OCEAN PARK, WA 98640

This bank loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA delivers a quick answer on whether the loan qualifies.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

233220 - Multifamily Housing Construction

Loan Approval Date

2/9/2004

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The loan application did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.

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

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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:

Business Credit Evaluation

Best Banks for Small Business in Ocean Park, Washington

Washington SBA Bank Lenders