Valley Bank SBA Loan to Jewelry Stores Company

An SBA loan from Valley Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Puyallup, Washington business owner got a $245,000 loan.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Valley Bank, out of Puyallup, Washington. The loan was granted and they received $245,000 to help grow their Puyallup, Washington business.

SBA Loan Borrower

COMPANY TYPE: JEWELRY STORES
PUYALLUP, WA 98372

SBA Loan Lender

VALLEY BANK
1307 E MAIN AVE
PUYALLUP, WA 98372

This SBA loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

448310 - Jewelry Stores

Loan Approval Date

11/19/2002

Loan Approval Gross Amount

$245,000

Loan Approval from the SBA

Of the total $245,000 loan amount, the SBA guaranteed $183,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 4 employees. The loan application did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must 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.

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.

Related Links:

Business Line of Credit

SBA Banks in Puyallup, Washington

Getting an SBA Loan in Washington