Business Loan from Washington Mutual Bank Given to Limited-Service Restaurants Company
Washington Mutual Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how an Illinois entrepreneur was able to get a loan to take a small business to the next level.
This small firm knew how to go about getting a business bank loan. Based in Decatur, Illinois, they applied for and received an SBA-guaranteed loan in 2001. The lending bank was Washington Mutual Bank, based in Irving, Texas.
SBA Loan Borrower
COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
DECATUR, IL 62522
SBA Loan Lender
WASHINGTON MUTUAL BANK
6341 E CAMPUS CIRCLE DR
IRVING, TX 75063
This lender issued this business loan under the SBA's 7A loan, in which the SBA provides guaranteed loans to small business owners. This lending program began 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.
NAICS Code
722211 - Limited-Service Restaurants
Loan Approval Date
9/5/2001
Loan Approval Gross Amount
$175,000
Loan Approval from the SBA
Of the total $175,000 loan amount, the SBA guaranteed $131,250.
More Information on This SBA Loan
The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company
had 4 employees. The loan application did not indicate that the business planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.
Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Washington Mutual Bank and they will explain how you can get an SBA loan for your company.
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:
Startup Funding Tip
Small Bank Loans in Irving, Texas
SBA Texas Lenders