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May 15, 2024 |
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| Home > Small Business Lenders by State > Florida Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Barber Shops Loan | ||||
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What Does It Take to Get a Business Loan in Miami, Florida?
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Raising Money for Barber ShopsLooking for business loans for barber shops? Talk to a banker who works with the SBA. This $30,000 barber shops loan was issued by a Nevada bank. This business knew how to go about getting a business bank loan. Based in Miami, Florida, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Washington Mutual Bank, based in Henderson, Nevada. SBA Loan Borrower COMPANY TYPE: BARBER SHOPS SBA Loan Lender WASHINGTON MUTUAL BANK This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 812111 - Barber Shops Loan Approval Date 6/26/2006 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 4 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: The Friends and Family Network Best Banks for Small Business in Henderson, Nevada
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