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May 9, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Mortgage And Nonmortgage Loan Brokers Loan | ||||
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Schaumburg Small Business Loans from Washington Mutual Bank
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Schaumburg, Illinois 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 Illinois entrepreneur was able to get a loan to take a small business to the next level. This growing company knew how to go about getting a business bank loan. Based in Schaumburg, Illinois, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Washington Mutual Bank, based in Henderson, Nevada. SBA Loan Borrower COMPANY TYPE: MORTGAGE AND NONMORTGAGE LOAN BROKERS SBA Loan Lender WASHINGTON MUTUAL BANK The lender provided this loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 522310 - Mortgage and Nonmortgage Loan Brokers Loan Approval Date 11/14/2005 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 8 employees. The loan application indicated that the loan would help generate 8 new jobs and retain 8 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Washington Mutual Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: Best Henderson, Nevada Banks for Small Business Getting a Business Loan in Nevada
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