Business Loan from City Bank Given to Mattresses, Foundations, And Convertible Beds Company
City Bank has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them.
This growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with City Bank, out of Lynnwood, Washington. The loan was granted and they received $150,000 to help grow their Seattle, Washington business.
SBA Loan Borrower
COMPANY TYPE: MATTRESSES, FOUNDATIONS, AND CONVERTIBLE BEDS
SEATTLE, WA 98119
SBA Loan Lender
CITY BANK
14807 HWY 99
LYNNWOOD, WA 98087
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2515 - Mattresses, Foundations, and Convertible Beds
NAICS Code
337910 - Mattress Manufacturing
Loan Approval Date
5/31/2000
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
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 loan application indicated that the loan would help generate 2 new jobs and retain 8 existing jobs.
Next Steps for Getting an SBA Loan
Remember, you 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.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like City Bank and they will explain how you can get an SBA loan for your company.
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 Credit Evaluation
SBA 7A Banks in Lynnwood, Washington
Washington SBA Banks