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May 3, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Aberdeen, Business Loans > Bank Of The Pacific Aberdeen Business Loans > Eating Places Loan | ||||
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WA Small Business Loans from Bank Of The Pacific
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SBA Loan from Bank Of The Pacific Helps Eating Places CompanyBank Of The Pacific 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 growing company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Bank Of The Pacific, out of Aberdeen, Washington. The loan was granted and they received $120,000 to help grow their Montesano, Washington business. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender BANK OF THE PACIFIC This was a Low Documentation SBA loan. The SBA launched 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. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places Loan Approval Date 4/20/2000 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $90,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the SBA funding recipient planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Bank Of The Pacific are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 - Getting Venture Capital Small Bank Loans in Aberdeen, Washington
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