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November 21, 2024 |
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| Home > Small Business Lenders by State > New York Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Jewelry, Watch, Precious Stone, And Precious Metal Merchant Wholesalers Loan | ||||
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SBA Lender Henderson
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Entrepreneur Works With Henderson, Nevada Bank to Get an SBA LoanGet to know Henderson, Nevada banks that specialize in SBA loans and know how to work with entrepreneurs. Washington Mutual Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Brooklyn, New York starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Washington Mutual Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: JEWELRY, WATCH, PRECIOUS STONE, AND PRECIOUS METAL MERCHANT WHOLESALERS SBA Loan Lender WASHINGTON MUTUAL BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423940 - Jewelry, Watch, Precious Stone, and Precious Metal Merchant Wholesalers Loan Approval Date 2/22/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 4 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 4 existing jobs. Start the Process for Getting an SBA Loan Today! SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Obtaining Funding - Friends and Family SBA Banks in Henderson, Nevada
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