Raising Money for Construction and Mining Machinery and Equipment Wholesale

With these bank loans for construction and mining machinery and equipment wholesale, the SBA guarantees the lender that the loan will be repaid. This construction and mining machinery and equipment wholesale loan for $82,700 was given to a Washington entrepreneur in 2002.

Getting a small business loan in Pomerdy, Washington was important for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Sterling Savings Bank, operating out of Spokane, Washington. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: CONSTRUCTION AND MINING MACHINERY AND EQUIPMENT WHOLESALE
POMERDY, WA 99347

SBA Loan Lender

STERLING SAVINGS BANK
111 N WALL ST, MAIL STOP #952
SPOKANE, WA 99201

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421810 - Construction and Mining Machinery and Equipment Wholesale

Loan Approval Date

7/11/2002

Loan Approval Gross Amount

$82,700

Loan Approval from the SBA

Of the total $82,700 loan amount, the SBA guaranteed $70,295.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The SBA loan application for the borrower did not indicate that the small business planned to use the money to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Sterling Savings Bank and they will explain how you can get an SBA loan for your company.

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:

Obtaining Funding From a Venture Capitalist

Where to Get an SBA Loan in Spokane, Washington

SBA Washington Lenders