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May 19, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Everett, Business Loans > Coastal Community Bank Everett Business Loans > Support Services Loan | ||||
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Everett, Washington Bank Loan
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Raising Money for Support ServicesLooking for business loans for support services? The SBA may be the answer. This $115,000 support services loan was issued by a Washington bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Everett, Washington was able to borrow $115,000 from Coastal Community Bank. The SBA made the loan possible by guaranteeing $97,750 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: SUPPORT SERVICES SBA Loan Lender COASTAL COMMUNITY BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with getting a loan . The low-doc program requires 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 561990 - Support Services Loan Approval Date 12/4/2001 Loan Approval Gross Amount $115,000 Loan Approval from the SBA Of the total $115,000 loan amount, the SBA guaranteed $97,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 2 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Coastal Community Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: How Much Venture Capital Is There? SBA 7A Lenders in Everett, Washington
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