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May 6, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Spokane, Business Loans > Washington Trust Bank Spokane Business Loans > Industrial Machinery And Equipment Wholesalers Loan | ||||
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How to Get an SBA 7A Loan in Spokane, Washington
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Washington Bank Loan Issued to Industrial Machinery And Equipment Wholesalers CompanyWould a Washington SBA loan help your business get to the next level? If so, you may want to talk with this Washington bank, which offers SBA loans to Washington entrepreneurs. You can learn something about getting a small business loan in Spokane, Washington by studying this loan to a local business, made back in 2002. Banks like Washington Trust Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS SBA Loan Lender WASHINGTON TRUST BANK At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to provide expeditious 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 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 7/18/2002 Loan Approval Gross Amount $338,000 Loan Approval from the SBA Of the total $338,000 loan amount, the SBA guaranteed $253,500. More Information on This SBA Loan The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: Microlending as a Small Business Funding Source Best Spokane, Washington Banks for Small Business SBA Participating Banks in Washington
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