Firm Gets a Washington Business Loan

Small business loans in Washington are are few and far betweeen these days. We take a look at one Washington small business loan, provided by a Washington bank, that was approved by the SBA.

Getting a small business loan in Spokane, Washington was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wheatland Bank. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: FURNITURE STORES
SPOKANE, WA 99201

SBA Loan Lender

WHEATLAND BANK
14732 E INDIANA AVE
SPOKANE, WA 99216

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.

NAICS Code

442110 - Furniture Stores

Loan Approval Date

4/24/2003

Loan Approval Gross Amount

$61,000

Loan Approval from the SBA

Of the total $61,000 loan amount, the SBA guaranteed $51,850.

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 only one employee. The loan application did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

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

If you need emergency business money, the SBA has special programs for you. We've put a spotlight on this loan from Wheatland Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

How Equity Dilution Works

Who Lends Money to Small Businesses in Spokane, Washington

Washington SBA Banks