Orting, WA Entrepreneur Gets SBA Loan to Buy Big O Tires dealers Franchise

Need money to purchase a Big O Tires dealers franchise? Washington Mutual Bank has a history of making these loans and they are guaranteed by the SBA.

An entrepreneur in Orting, Washington needed money to invest in a Big O Tires dealers franchise back in 2002. Washington Mutual Bank issued an SBA franchise loan. Here are the details on this Washington small business loan.

SBA Loan Borrower

COVINGTON TIRE & SERVICES
ORTING, WA 98360

SBA Loan Lender

WASHINGTON MUTUAL BANK
601 CRATER LAKE AVE
MEDFORD, OR 97504

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

441310 - Automotive Parts and Accessories Stores

Loan Approval Date

5/8/2002

Loan Approval Gross Amount

$116,000

Loan Approval from the SBA

Of the total $116,000 loan amount, the SBA guaranteed $98,600.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Big O Tires dealers franchise. At the time of the loan, the company had 5 employees. The SBA loan application for the borrower indicated that the loan would help generate 6 new jobs and retain 5 existing jobs.

Getting an SBA Loan For Your Business

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

We can help you find the best banks for small businesses in Orting or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Big O Tires, Inc.

Role of Business Plan When Raising Money

Banks in Medford, Oregon

SBA Lenders in Oregon