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May 6, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Seattle, Business Loans > Northwest Business Bank Seattle Business Loans > Excavation Contractors Loan | ||||
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Seattle Bank Loan
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Seattle, Washington Bank Lends Money to Excavation Contractors Company in Snohomish, WashingtonA Seattle, Washington SBA loan can be yours. Learn how a company got a $120,000 business loan from this Washington bank. This loan to an entrepreneur is a good example of an SBA loan. Northwest Business Bank made the loan and the SBA guaranteed a portion of the loan. Many other Washington entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: EXCAVATION CONTRACTORS SBA Loan Lender NORTHWEST BUSINESS BANK This was a Low Documentation SBA loan. The SBA launched this program to limit the paperwork associated with getting a loan . The low-doc program is quick, requiring 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 235930 - Excavation Contractors Loan Approval Date 9/7/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. 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 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to hire new employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a business or need money for an existing business, an SBA loan can be a great way to raise money 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 Northwest Business 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: Best Seattle, Washington Banks for Small Business
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