Financing for Special Trade Contractors
With these loans for special trade contractors, the SBA guarantees the lender that the loan will be repaid. This special trade contractors loan for $60,000 was given to a Washington entrepreneur in 2002.
This company knew how to go about getting a business bank loan. Based in Redmond, Washington, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was City Bank, based in Lynnwood, Washington.
SBA Loan Borrower
COMPANY TYPE: SPECIAL TRADE CONTRACTORS
REDMOND, WA 98052
SBA Loan Lender
CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087
Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
235990 - Special Trade Contractors
Loan Approval Date
4/5/2002
Loan Approval Gross Amount
$60,000
Loan Approval from the SBA
Of the total $60,000 loan amount, the SBA guaranteed $51,000.
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 6 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 6 existing jobs.
Start the Process for Getting an SBA Loan Today!
If you are interested in getting money to start a business or already have a business and need money to expand, an SBA loan can be a great source of funding.
We can help you find the best banks for small businesses in Redmond 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:
Raising Venture Capital
SBA Approved Banks in Lynnwood, Washington
Getting an SBA Loan in Washington