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May 13, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Colfax, Business Loans > Bank Of Whitman Colfax Business Loans > Beauty Salons Loan | ||||
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SBA Lender Colfax
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Colfax, Washington Bank Gives SBA Loan to Beauty Salons CompanyThinking about meeting with a Colfax, Washington bank about an SBA loan? Here's one Washington business loan, issued by a Colfax bank, that was approved by the SBA. Applying for an SBA loan with Bank Of Whitman worked out well for our friends at one local business in Pullman, Washington. The business was able to get an SBA loan for $105,000. Nice! SBA Loan Borrower COMPANY TYPE: BEAUTY SALONS SBA Loan Lender BANK OF WHITMAN This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 812112 - Beauty Salons Loan Approval Date 2/10/2003 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $89,250. 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 only one employee. This SBA loan request did not indicate that the small business promised to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Every year, the SBA guarantees over $10 billion for loans just like this one. This SBA loan was for $105,000. How would you spend $105,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks in Colfax, Washington
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