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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Automotive Mechanical And Electrical Repair And Maintenance Loan | ||||
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California Small Business Funding
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Financing for Automotive Mechanical and Electrical Repair and MaintenanceLooking for loans for automotive mechanical and electrical repair and maintenance? Try the SBA. This $10,000 automotive mechanical and electrical repair and maintenance loan was issued by a Nevada bank. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Washington Mutual Bank, out of Henderson, Nevada. The loan was granted and they received $10,000 to help grow their San Clemente, California business. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE MECHANICAL AND ELECTRICAL REPAIR AND MAINTENANCE SBA Loan Lender WASHINGTON MUTUAL BANK This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 811118 - Automotive Mechanical and Electrical Repair and Maintenance Loan Approval Date 5/2/2006 Loan Approval Gross Amount $10,000 Loan Approval from the SBA Of the total $10,000 loan amount, the SBA guaranteed $5,000. 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 only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Start the Process for Getting an SBA Loan Today! 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. 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. Related Links: SBA Participating Banks in Henderson, Nevada SBA Participating Banks in Nevada
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