Silverdale, WA Entrepreneur Gets SBA Loan to Buy Line-X Franchise

Need money to invest in a Line-X franchise? Kitsap Bank has a history of making these loans and they are guaranteed by the SBA.

Line-X franchise loans are available to Silverdale, Washington entrepreneurs, and entrepreneurs in other locations throughout the country. In fact, Kitsap Bank, based in Port Orchard, Washington, issued an SBA franchise loan for a Line-X franchise in 2005. We've got all the details on this Washington small business loan.

SBA Loan Borrower

LINE-X SILVERDALE INC
SILVERDALE, WA 98383

SBA Loan Lender

KITSAP BANK
619 BAY ST
PORT ORCHARD, WA 98366

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.

NAICS Code

811121 - Automotive Body, Paint, and Interior Repair and Maintenance

Loan Approval Date

3/25/2005

Loan Approval Gross Amount

$854,600

Loan Approval from the SBA

Of the total $854,600 loan amount, the SBA guaranteed $640,950.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Line-X franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help retain 3 existing jobs.

Getting an SBA Loan For Your Business

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Kitsap Bank 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.

Related Links:

Line-X Corp.

Business Cash Advances

SBA Participating Banks in Port Orchard, Washington

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