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March 29, 2024  
 
 
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How to Get SBA Loans in Juneau, Alaska

 

 
Loan Census SBA Loan Info

Borrowing Money for Hobby, Toy, and Game Stores

Looking for loans for hobby, toy, and game stores? The SBA may be the answer. This $110,000 hobby, toy, and game stores loan was issued by an Alaska bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Juneau, Alaska was able to borrow $110,000 from Alaska Pacific Bank. The SBA made the loan possible by guaranteeing $93,500 of this Alaska small business loan.

SBA Loan Borrower

COMPANY TYPE: HOBBY, TOY, AND GAME STORES
JUNEAU, AK 99801

SBA Loan Lender

ALASKA PACIFIC BANK
2094 JORDAN AVE
JUNEAU, AK 99801

This was a Low Documentation SBA loan. The SBA created this program to reduce the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

451120 - Hobby, Toy, and Game Stores

Loan Approval Date

2/6/2003

Loan Approval Gross Amount

$110,000

Loan Approval from the SBA

Of the total $110,000 loan amount, the SBA guaranteed $93,500.

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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Alaska Pacific Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Role of Business Plan When Raising Money

Small Bank Loans in Juneau, Alaska

Find an SBA Lender in Alaska