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May 5, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Irving, Business Loans > Washington Mutual Bank Irving Business Loans > Excavation Work Loan | ||||
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Tips for Businesses On Getting a Loan
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Excavation Contractors Business LoansLooking for business loans for excavation contractors? The SBA may be the answer. This $230,000 excavation contractors loan was issued by a Texas bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Copiague, New York was able to borrow $230,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $172,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: EXCAVATION WORK SBA Loan Lender WASHINGTON MUTUAL BANK The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide commercial loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1794 - Excavation Work NAICS Code 235930 - Excavation Contractors Loan Approval Date 3/29/2001 Loan Approval Gross Amount $230,000 Loan Approval from the SBA Of the total $230,000 loan amount, the SBA guaranteed $172,500. 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 2 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Washington Mutual Bank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP). 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: Where to Get an SBA Loan in Irving, Texas
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