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May 13, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Oak Harbor, Business Loans > Whidbey Island Bank Oak Harbor Business Loans > Beauty Salons Loan | ||||
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SBA Lenders for Businesses in Washington
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Whidbey Island Bank Gives Small Business Loan to Beauty Salons CompanyBusiness loans in Washington are hard to find these days. We take a look at one Washington business loan, provided by a Washington bank, that was approved by the SBA. By giving the right information to Whidbey Island Bank, this Bellingham, Washington business was able to get an SBA loan. To get this loan, the business owner gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender WHIDBEY ISLAND 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 812112 - Beauty Salons Loan Approval Date 6/9/2005 Loan Approval Gross Amount $197,400 Loan Approval from the SBA Of the total $197,400 loan amount, the SBA guaranteed $148,050. 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 4 employees. The SBA loan application for the borrower indicated that the loan would help generate 15 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $197,400 loan. Remember, things become real when you believe you can achieve them! 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: Banks in Oak Harbor, Washington
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