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November 15, 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 > Nail Salons Loan | ||||
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SBA Lender New York
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Washington Mutual Bank SBA Loan to Nail Salons CompanyAn SBA loan from Washington Mutual Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Hempstead, New York business owner got a $43,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Hempstead, New York was able to borrow $43,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $21,500 of this New York small business loan. SBA Loan Borrower COMPANY TYPE: NAIL SALONS SBA Loan Lender WASHINGTON MUTUAL BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 812113 - Nail Salons Loan Approval Date 1/18/2006 Loan Approval Gross Amount $43,000 Loan Approval from the SBA Of the total $43,000 loan amount, the SBA guaranteed $21,500. 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 5 employees. The loan application indicated that the loan would help retain 5 existing jobs. Start the Process for Getting an SBA Loan Today! Don't forget. To get an SBA loan, you must 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: Small Bank Loans in Henderson, Nevada
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