Columbia State Bank Gives Bank Loan to Floor Covering Stores Company

Looking to get a Washington bank loan? This Washington entrepreneur got a bank loan, provided by a Washington bank that works with the SBA to help small business owners.

Getting a small business loan in Port Angeles, Washington was a top priority for this loan applicant back in 2006 and, based on their loan application, they were successful in getting an SBA loan from Columbia State Bank. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: FLOOR COVERING STORES
PORT ANGELES, WA 98382

SBA Loan Lender

COLUMBIA STATE BANK
2915 HARRISON AVE NW, STE 230
OLYMPIA, WA 98502

When this loan was made, this bank participated in the SBA's Certified Lenders Program (CLP). This program is designed to give expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

442210 - Floor Covering Stores

Loan Approval Date

8/9/2006

Loan Approval Gross Amount

$492,000

Loan Approval from the SBA

Of the total $492,000 loan amount, the SBA guaranteed $369,000.

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 8 employees. The loan application did not indicate that the small business planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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Banks in Olympia, Washington

Getting an SBA Loan in Washington