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November 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Real Estate Agents And Brokers Loan | ||||
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I Need a Business Loan in Chicago, Illinois
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Borrowing Money for Real Estate Agents and BrokersWith these bank loans for real estate agents and brokers, the SBA guarantees the lender that the loan will be repaid. This real estate agents and brokers loan for $16,000 was given to an Illinois entrepreneur in 2005. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chicago, Illinois was able to borrow $16,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $8,000 of this Illinois small business loan. SBA Loan Borrower COMPANY TYPE: REAL ESTATE AGENTS AND BROKERS 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 531210 - Real Estate Agents and Brokers Loan Approval Date 12/6/2005 Loan Approval Gross Amount $16,000 Loan Approval from the SBA Of the total $16,000 loan amount, the SBA guaranteed $8,000. 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 4 employees. The loan application indicated that the loan would help generate 3 new jobs and retain 4 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are wondering how to find money to start a business or need money for an existing business, an SBA loan can be a great funding source 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 Washington Mutual Bank 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: Role of Business Plan When Raising Money Good Banks for Small Business in Henderson, Nevada
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