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May 18, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Spokane, Business Loans > Wheatland Bank Spokane Business Loans > Building Equipment And Machinery Installation Contractors Loan | ||||
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Banks That Lend to Spokane Entrepreneurs
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Spokane, Washington Entrepreneur Gets a Bank LoanBank loans in Washington are are few and far betweeen these days. We take a look at one Washington bank loan, provided by a Washington bank, that was approved by the SBA. By giving the right information to Wheatland Bank, this Spokane, Washington business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: BUILDING EQUIPMENT AND MACHINERY INSTALLATION CONTRACTORS SBA Loan Lender WHEATLAND BANK When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program aims to provide speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235950 - Building Equipment and Machinery Installation Contractors Loan Approval Date 8/24/2005 Loan Approval Gross Amount $586,740 Loan Approval from the SBA Of the total $586,740 loan amount, the SBA guaranteed $440,055. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $586,740 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 7A Lenders in Spokane, Washington
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