Machine Shops SBA Loans

With these SBA loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $150,000 was given to a Washington entrepreneur in 2002.

This business knew how to go about getting a business bank loan. Based in Snohomish, Washington, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Whidbey Island Bank, based in Burlington, Washington.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
SNOHOMISH, WA 98290

SBA Loan Lender

WHIDBEY ISLAND BANK
1800 S BURLINGTON BLVD
BURLINGTON, WA 98233

This was a Low Documentation SBA loan. The SBA created this program to minimize the paperwork associated with borrowing money. The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

11/1/2002

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 an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide smart, affordable business financing for small businesses looking to expand.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $150,000 loan. Remember, things become real when you believe you can achieve them!

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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