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May 7, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Seattle, Business Loans > Northwest Business Bank Seattle Business Loans > Personal Services Loan | ||||
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Examples of Seattle SBA Loans
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Personal Services Small Business LoansWith these small business loans for personal services, the SBA guarantees the lender that the loan will be repaid. This personal services loan for $56,300 was given to a Washington entrepreneur in 2001. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seattle, Washington was able to borrow $56,300 from Northwest Business Bank. The SBA made the loan possible by guaranteeing $47,855 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: PERSONAL SERVICES SBA Loan Lender NORTHWEST BUSINESS BANK This lender issued this particular loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812990 - Personal Services Loan Approval Date 2/6/2001 Loan Approval Gross Amount $56,300 Loan Approval from the SBA Of the total $56,300 loan amount, the SBA guaranteed $47,855. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Borrowing Money from Friends and Family Best Seattle, Washington Banks for Small Business SBA Participating Banks in Washington
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