Firm Gets a Washington Bank Loan

Small business loans in Washington are tough to come by 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 Tacoma, Washington was a top priority for this small company back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Northwest Commercial Bank. Here are the details on this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
TACOMA, WA 98445

SBA Loan Lender

NORTHWEST COMMERCIAL BANK
5726 100TH ST SW
LAKEWOOD, WA 98499

This was a Low Documentation SBA loan. The SBA created this program to limit 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. Right now, the maximum small business loan for this SBA program is $100,000.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

423840 - Industrial Supplies Merchant Wholesalers

Loan Approval Date

5/27/2005

Loan Approval Gross Amount

$33,000

Loan Approval from the SBA

Of the total $33,000 loan amount, the SBA guaranteed $28,050.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans provide money to small business owners for working capital for other expenses.

We've showcased information on this loan to let you know that businesses like yours can get an SBA loan.

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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