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November 15, 2024 |
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| Home > Small Business Lenders by State > Idaho Business Loan Sources > Spokane, Business Loans > Washington Trust Bank Spokane Business Loans > Veterinary Services Loan | ||||
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Washington Bank SBA Loans
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Spokane, Washington Bank Lends Money to Veterinary Services Company in Coeur D'Alene, IdahoA Spokane, Washington SBA loan can be yours. Learn how one firm got a $367,750 business loan from this Washington bank. This loan to an entrepreneur is a good example of an SBA loan. Washington Trust Bank made the loan and the SBA guaranteed a portion of the loan. Many other Idaho entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: VETERINARY SERVICES SBA Loan Lender WASHINGTON TRUST BANK This business loan was granted by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a comprehensive analysis of the loan application and, in return, SBA delivers a quick answer on whether the loan qualifies. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 541940 - Veterinary Services Loan Approval Date 11/20/2003 Loan Approval Gross Amount $367,750 Loan Approval from the SBA Of the total $367,750 loan amount, the SBA guaranteed $275,813. 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 6 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: SBA Participating Banks in Spokane, Washington Browse All Business Loan Sources for Washington
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