Seattle, Washington Business Gets SBA-Guaranteed Funding from Bank Of America

An SBA loan from Bank Of America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Seattle, Washington business owner got a $150,000 loan.

This business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of America, out of Seattle, Washington. The loan was granted and they received $150,000 to help grow their Seattle, Washington business.

SBA Loan Borrower

COMPANY TYPE: ORTHOPEDIC, PROSTHETIC AND OTHER SURGICAL SUPPLIES
SEATTLE, WA 98104

SBA Loan Lender

BANK OF AMERICA
701 5TH AVE
SEATTLE, WA 98104

This was a Low Documentation SBA loan. The SBA launched this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3842 - Orthopedic, Prosthetic and Other Surgical Supplies

Loan Approval Date

2/17/2000

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 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 3 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of America are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you.

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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