Local Business Gets a Washington Bank Loan

Business loans in Washington are hard to find these days. We take a look at one Washington business loan, provided by a Washington bank, that was approved by the SBA.

By giving the right information to Boeing Empl Cu, this Seatac, Washington business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.

SBA Loan Borrower

COMPANY TYPE: CAR WASHES
SEATAC, WA 98188

SBA Loan Lender

BOEING EMPL CU
12770 GATEWAY DR
TUKWILA, WA 98168

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

811192 - Car Washes

Loan Approval Date

10/20/2006

Loan Approval Gross Amount

$23,000

Loan Approval from the SBA

Of the total $23,000 loan amount, the SBA guaranteed $11,500.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 2 employees. The SBA loan documents indicated that the borrowed money would help create 2 new jobs.

Start the Process for Getting an SBA Loan Today!

If you are working on finding money to start a business in Seatac WA, you ought to talk with a local Seatac SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Seatac businesses.

If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Boeing Empl Cu so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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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