Pomeroy, Washington Bank Gives SBA Loan to Motor Vehicle Dealers Company

Get small business loans from a Pomeroy, Washington bank that knows how to treat small business owners right! If this firm can get a loan, there's no reason you can't do it too.

Bank Of Whitman is a Pomeroy, Washington small business lender that is dedicated to providing financing to small businesses. In this case, they gave a small business loan to a Washington company.

SBA Loan Borrower

COMPANY TYPE: MOTOR VEHICLE DEALERS
OTHELLO, WA 99344

SBA Loan Lender

BANK OF WHITMAN
850 MAIN ST
POMEROY, WA 99347

This commercial loan was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and a deep knowledge SBA policies and procedures.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

441229 - Motor Vehicle Dealers

Loan Approval Date

5/27/2003

Loan Approval Gross Amount

$1,000,000

Loan Approval from the SBA

Of the total $1,000,000 loan amount, the SBA guaranteed $750,000.

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 25 employees. The loan application did not indicate that the business promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you need business start up money in Othello WA, you ought to talk with a local Othello SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Othello businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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.

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