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May 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Burlington, Business Loans > Whidbey Island Bank Burlington Business Loans > Book Stores Loan | ||||
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SBA Lender Oak Harbor Washington
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Company Gets a Washington Bank LoanSBA loans in Washington are hard to find these days. We take a look at one Washington SBA loan, provided by a Washington bank, that was approved by the SBA. This business, based in Oak Harbor, Washington, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Whidbey Island Bank. We've got the inside scoop on this Washington small business loan. SBA Loan Borrower COMPANY TYPE: BOOK STORES SBA Loan Lender WHIDBEY ISLAND BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with borrowing money. The low-doc program involves 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. SIC Code 5942 - Book Stores NAICS Code 451211 - Book Stores Loan Approval Date 3/31/2000 Loan Approval Gross Amount $26,200 Loan Approval from the SBA Of the total $26,200 loan amount, the SBA guaranteed $20,960. 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 3 employees. This SBA loan request did not indicate that the company planned to use the loan proceeds to hire new employees 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. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: SBA Approved Banks in Burlington, Washington
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