Entrepreneur Works With Centralia, Washington Bank to Get an SBA Loan

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

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

SBA Loan Borrower

COMPANY TYPE: PERSONAL CARE SERVICES
TACOMA, WA 98407

SBA Loan Lender

SECURITY STATE BANK
1930 S GOLD ST
CENTRALIA, WA 98531

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

812199 - Personal Care Services

Loan Approval Date

9/29/2005

Loan Approval Gross Amount

$83,300

Loan Approval from the SBA

Of the total $83,300 loan amount, the SBA guaranteed $70,805.

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 2 employees. The SBA loan documents did not indicate that the business promised to use the money 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.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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