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November 21, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Salt Lake City, Business Loans > Merrill Lynch Bank Usa Salt Lake City Business Loans > Plate Work Manufacturing Loan | ||||
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SBA Lender Washington
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Merrill Lynch Bank Usa SBA Loan to Plate Work Manufacturing CompanyMerrill Lynch Bank Usa and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Merrill Lynch Bank Usa, out of Salt Lake City, Utah. The loan was granted and they received $378,000 to help grow their Airway Heigths, Washington business. SBA Loan Borrower COMPANY TYPE: PLATE WORK MANUFACTURING SBA Loan Lender MERRILL LYNCH BANK USA This commercial loan was provided by a small business banker with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loan requests to the SBA get more expeditious service from the SBA on their loan applications. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332313 - Plate Work Manufacturing Loan Approval Date 5/22/2002 Loan Approval Gross Amount $378,000 Loan Approval from the SBA Of the total $378,000 loan amount, the SBA guaranteed $283,500. 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 61 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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 Merrill Lynch Bank Usa 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: SBA 7A Banks in Salt Lake City, Utah
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