Winthrop, Washington Entrepreneur Gets a Business Loan

Looking to get a Washington bank loan? This Washington entrepreneur got a bank loan, provided by a Washington bank that works with the SBA to help small business owners.

You can learn something about getting a small business loan in Winthrop, Washington by studying this loan to a local company, made back in 2002. Banks like First Heritage Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
WINTHROP, WA 98862

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This small business loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending background and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

7/17/2002

Loan Approval Gross Amount

$218,000

Loan Approval from the SBA

Of the total $218,000 loan amount, the SBA guaranteed $163,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing 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 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you are raising money in Winthrop WA, you ought to talk with a local Winthrop SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Winthrop businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Heritage Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Heritage Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Business Line of Credit

SBA Banks in Snohomish, Washington

Getting an SBA Loan in Washington