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May 5, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Irving, Business Loans > Washington Mutual Bank Irving Business Loans > Machine Tools, Metal Cutting Types Loan | ||||
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Washington Mutual Bank Small Business Loans Farmers Branch, Texas
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Farmers Branch, Texas Business Gets SBA-Guaranteed Funding from Washington Mutual BankAn SBA loan from Washington Mutual Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Farmers Branch, Texas business owner got a $427,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Farmers Branch, Texas was able to borrow $427,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $320,250 of this Texas small business loan. SBA Loan Borrower COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES SBA Loan Lender WASHINGTON MUTUAL BANK The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3541 - Machine Tools, Metal Cutting Types NAICS Code 333512 - Machine Tool Manufacturing Loan Approval Date 9/20/2001 Loan Approval Gross Amount $427,000 Loan Approval from the SBA Of the total $427,000 loan amount, the SBA guaranteed $320,250. More Information on This SBA Loan The borrower borrowed this money for a new 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 5 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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:
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