Loan Census Banking News and Information
January 29, 2023  
 
 
  Business Loan Information  
 

Anchor Mutual Savings Bank Dba A Hoquiam, Washington

 

 
Loan Census SBA Loan Info

SBA Loan from Anchor Mutual Savings Bank Dba A Helps Commercial Screen Printing Company

Anchor Mutual Savings Bank Dba A is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Washington entrepreneur who tapped into the power of SBA loans.

This small firm received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Anchor Mutual Savings Bank Dba A, out of Aberdeen, Washington. The loan was granted and they received $45,000 to help grow their Hoquiam, Washington business.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL SCREEN PRINTING
HOQUIAM, WA 98550

SBA Loan Lender

ANCHOR MUTUAL SAVINGS BANK DBA A
100 W FIRST ST
ABERDEEN, WA 98520

This was a Low Documentation SBA loan. The SBA created this program to limit the paperwork associated with appliying for an SBA 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

323113 - Commercial Screen Printing

Loan Approval Date

7/30/2002

Loan Approval Gross Amount

$45,000

Loan Approval from the SBA

Of the total $45,000 loan amount, the SBA guaranteed $38,250.

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 only one employee. The SBA loan application for the borrower did not indicate that the company promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from Anchor Mutual Savings Bank Dba A so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Role of Business Plan When Raising Money

SBA Approved Banks in Aberdeen, Washington

SBA Lenders in Washington