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May 20, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Residential Remodelers Loan | ||||
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Washington Mutual Bank Commercial Loans
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How to Get a Loan for Residential RemodelersLooking for SBA loans for residential remodelers? Talk to a banker who works with the SBA. This $47,000 residential remodelers loan was issued by a Nevada bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Carol Stream, Illinois was able to borrow $47,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $23,500 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: RESIDENTIAL REMODELERS SBA Loan Lender WASHINGTON MUTUAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 236118 - Residential Remodelers Loan Approval Date 7/6/2007 Loan Approval Gross Amount $47,000 Loan Approval from the SBA Of the total $47,000 loan amount, the SBA guaranteed $23,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 5 existing jobs. Next Steps for Getting an SBA Loan 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 Mutual 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: Determining Proper Capital Structure for a Business Good Banks for Small Business in Henderson, Nevada
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