Heritage Bank Gives Bank Loan to Bread, Cake, And Related Bakery Products Company
WashingtonSBA loans are available to Washington entrepreneurs through the SBA. In this case, a Washington bank provides the loan.
By giving the right information to Heritage Bank, this Federal Way, Washington business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: BREAD, CAKE, AND RELATED BAKERY PRODUCTS
FEDERAL WAY, WA 98003
SBA Loan Lender
HERITAGE BANK
32303 PACIFIC HWY SOUTH
FEDERAL WAY, WA 98003
This loan was sent in by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA provides a fast loan decision.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
2051 - Bread, Cake, and Related Bakery Products
NAICS Code
311812 - Commercial Bakeries
Loan Approval Date
5/25/2001
Loan Approval Gross Amount
$420,000
Loan Approval from the SBA
Of the total $420,000 loan amount, the SBA guaranteed $315,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company
had 27 employees. The SBA loan documents did not indicate that the business promised to use the funding to hire new employees or retain any existing employees.
Getting an SBA Loan For Your Business
SBA loans provide money to small business owners for working capital for other expenses.
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 $420,000 loan. Remember, if it to be, it is up to me!
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:
Determining Proper Capital Structure for a Business
SBA Participating Banks in Federal Way, Washington
Washington SBA 7A Lenders