Renton, Washington Business Gets SBA-Guaranteed Funding from First Heritage Bank

First Heritage Bank has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Renton, Washington was able to borrow $1,038,000 from First Heritage Bank. The SBA made the loan possible by guaranteeing $778,500 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: LOGGING
RENTON, WA 98058

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

113310 - Logging

Loan Approval Date

4/25/2002

Loan Approval Gross Amount

$1,038,000

Loan Approval from the SBA

Of the total $1,038,000 loan amount, the SBA guaranteed $778,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 50 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 50 existing jobs.

Next Steps for Getting an SBA Loan

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.

While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.

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:

Getting a Small Business Loan

Good Banks for Small Business in Snohomish, Washington

SBA Washington Banks