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May 14, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Olympia, Business Loans > Heritage Bank Olympia Business Loans > Full-Service Restaurants Loan | ||||
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SBA Loan from Heritage Bank
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SBA Loan from Heritage Bank Helps Full-Service Restaurants CompanyHeritage Bank has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tacoma, Washington was able to borrow $330,000 from Heritage Bank. The SBA made the loan possible by guaranteeing $247,500 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender HERITAGE BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 10/3/2007 Loan Approval Gross Amount $330,000 Loan Approval from the SBA Of the total $330,000 loan amount, the SBA guaranteed $247,500. 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 35 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Obtaining Funding - How to Borrow Money Who Lends Money to Small Businesses in Olympia, Washington Where to Get an SBA Loan Washington
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