First Heritage Bank SBA Loan to Machine Tool Manufacturing Company

First Heritage Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level.

This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with First Heritage Bank, out of Snohomish, Washington. The loan was granted and they received $252,000 to help grow their Arlington, Washington business.

SBA Loan Borrower

COMPANY TYPE: MACHINE TOOL MANUFACTURING
ARLINGTON, WA 98223

SBA Loan Lender

FIRST HERITAGE BANK
167 LINCOLN ST
SNOHOMISH, WA 98290

This lender provides SBA bank loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333512 - Machine Tool Manufacturing

Loan Approval Date

1/31/2005

Loan Approval Gross Amount

$252,000

Loan Approval from the SBA

Of the total $252,000 loan amount, the SBA guaranteed $189,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 7 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

Every year, the SBA guarantees over $10 billion for loans just like this one.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $252,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Bank Credit Lines

Good Banks for Small Business in Snohomish, Washington

Washington SBA Bank Lenders