Outdoor Power Equipment Stores Commercial Loans

With these commercial loans for outdoor power equipment stores, the SBA guarantees the lender that the loan will be repaid. This outdoor power equipment stores loan for $619,000 was given to a Virginia entrepreneur in 2002.

Getting a small business loan in Fairfax, Virginia was important for this business back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Washington Mutual Bank, operating out of Henderson, Nevada. Here are the details on this Virginia small business loan.

SBA Loan Borrower

COMPANY TYPE: FARM AND GARDEN MACHINERY AND EQUIPMENT
FAIRFAX, VA 22031

SBA Loan Lender

WASHINGTON MUTUAL BANK
2273 N GREEN VALLEY PKWY, STE
HENDERSON, NV 89014

When it made this small business loan, the lender was part of the SBA's Certified Lenders Program (CLP). This program was created to offer rapid service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5083 - Farm and Garden Machinery and Equipment

NAICS Code

444210 - Outdoor Power Equipment Stores

Loan Approval Date

2/7/2002

Loan Approval Gross Amount

$619,000

Loan Approval from the SBA

Of the total $619,000 loan amount, the SBA guaranteed $464,250.

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 8 employees. The loan application did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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