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May 18, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Boise, Business Loans > Washington Trust Bank Boise Business Loans > Homefurnishings Stores Loan | ||||
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Best Banks That Lend to Boise Small Business Owners
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Washington Trust Bank Gives SBA Loan to Homefurnishings Stores CompanyIdahoSmall business loans are available to Idaho small business owners through the SBA. In this case, an Idaho bank provides the loan. Getting a small business loan in Boise, Idaho was a top priority for this small company back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Washington Trust Bank. Here are the details on this Idaho small business loan. SBA Loan Borrower COMPANY TYPE: HOMEFURNISHINGS STORES SBA Loan Lender WASHINGTON TRUST BANK This lender issued this loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5719 - Homefurnishings Stores NAICS Code 442299 - Home Furnishings Stores Loan Approval Date 4/30/2001 Loan Approval Gross Amount $975,000 Loan Approval from the SBA Of the total $975,000 loan amount, the SBA guaranteed $731,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Many small businesses receive loans backed by the U.S. Small Business Administration. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Washington Trust Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 - How to Borrow Money
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