Entrepreneur Works With Sedro Woolley, Washington Bank to Get an SBA Loan

Get to know Sedro Woolley, Washington banks that specialize in small business loans and know how to work with entrepreneurs. Whidbey Island Bank is one such bank, as evidenced by this SBA loan to a growing company.

Finding a small business loan in Sedro Woolley, Washington starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Whidbey Island Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BUSINESS SERVICES
SEDRO WOOLLEY, WA 98284

SBA Loan Lender

WHIDBEY ISLAND BANK
339 FERRY ST
SEDRO WOOLLEY, WA 98284

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7389 - Business Services

NAICS Code

335129 - Lighting Equipment Manufacturing

Loan Approval Date

2/14/2001

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $127,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 14 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

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SBA Participating Banks in Sedro Woolley, Washington

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