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November 21, 2024 |
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| Home > Small Business Lenders by State > Texas Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Electrical Work Loan | ||||
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Raising Money in Austin, Texas With SBA Loans
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Borrowing Money for Electrical ContractorsWith these small business loans for electrical contractors, the SBA guarantees the lender that the loan will be repaid. This electrical contractors loan for $460,900 was given to a Texas entrepreneur in 2001. This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Washington Mutual Bank, out of Henderson, Nevada. The loan was granted and they received $460,900 to help grow their Austin, Texas business. SBA Loan Borrower COMPANY TYPE: ELECTRICAL WORK SBA Loan Lender WASHINGTON MUTUAL BANK This lender issued this business loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 1731 - Electrical Work NAICS Code 235310 - Electrical Contractors Loan Approval Date 12/13/2001 Loan Approval Gross Amount $460,900 Loan Approval from the SBA Of the total $460,900 loan amount, the SBA guaranteed $345,675. 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 34 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan 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. We can help you find the best banks for small businesses in Austin or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success. 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: Obtaining Funding - Friends and Family Small Business Banks in Henderson, Nevada
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