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May 4, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Boat Building And Repairing Loan | ||||
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SBA 7A Banks That Lend to Washington Businesses
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Firm Gets a Washington Business LoanWashingtonSmall business loans are available to Washington small business owners through the SBA. In this case, a California bank provides the loan. You can learn something about getting a small business loan in Kent, Washington by studying this loan to a local company, made back in 2002. Banks like Wells Fargo Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: BOAT BUILDING AND REPAIRING SBA Loan Lender WELLS FARGO BANK When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to ensure speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3732 - Boat Building and Repairing NAICS Code 336612 - Boat Building Loan Approval Date 7/2/2002 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $187,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 22 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. 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 Wells Fargo 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: Realistic Debt Financing Options Good Banks for Small Business in San Jose, California Find an SBA Lender in California
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