Washington Mutual Bank Gives SBA Loan to Junior Colleges And Technical Institutes Company

SBA loans in California are hard to find these days. We take a look at one California SBA loan, provided by a Nevada bank, that was approved by the SBA.

You can learn something about getting a small business loan in El Monte, California by studying this loan to a local business, made back in 2000. Banks like Washington Mutual Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: JUNIOR COLLEGES AND TECHNICAL INSTITUTES
EL MONTE, CA 91732

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

8222 - Junior Colleges and Technical Institutes

NAICS Code

611210 - Junior Colleges

Loan Approval Date

5/22/2000

Loan Approval Gross Amount

$1,290,500

Loan Approval from the SBA

Of the total $1,290,500 loan amount, the SBA guaranteed $749,999.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 20 employees. The SBA loan application for the borrower indicated that the loan would help retain 20 existing jobs.

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

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Washington Mutual Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Washington Mutual Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Accountant's Role in Securing Financing

SBA 7A Banks in Henderson, Nevada

SBA Nevada Lenders