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May 4, 2024 |
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| Home > Small Business Lenders by State > Oregon Business Loan Sources > Salt Lake City, Business Loans > Washington Mutual Bank Salt Lake City Business Loans > Specialty Food Stores Loan | ||||
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Business Loan from Washington Mutual Bank
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Bend, Oregon Business Gets SBA-Guaranteed Funding from Washington Mutual BankWashington Mutual Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Oregon entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Bend, Oregon was an essential business goal for this firm back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Washington Mutual Bank, operating out of Salt Lake City, Utah. Here are the details on this Oregon small business loan. SBA Loan Borrower COMPANY TYPE: SPECIALTY FOOD STORES SBA Loan Lender WASHINGTON MUTUAL BANK This lender issued this particular SBA business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445299 - Specialty Food Stores Loan Approval Date 12/8/2000 Loan Approval Gross Amount $29,000 Loan Approval from the SBA Of the total $29,000 loan amount, the SBA guaranteed $23,200. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 3 employees. The loan application did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Small Business Banks in Salt Lake City, Utah
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