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December 23, 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 > Fine Arts Schools Loan | ||||
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New York SBA Loan from Washington Mutual Bank
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Washington Mutual Bank SBA Loan to Fine Arts Schools CompanyWashington Mutual Bank has a track record as a leading provider of SBA loans. Find out how this New York entrepreneur received an SBA loan from them. This growing company knew how to go about getting a business bank loan. Based in Little Neck, New York, they applied for and received an SBA-guaranteed loan in 2007. The lending bank was Washington Mutual Bank, based in Henderson, Nevada. SBA Loan Borrower COMPANY TYPE: FINE ARTS SCHOOLS 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 611610 - Fine Arts Schools Loan Approval Date 12/18/2007 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 2 new jobs and retain 14 existing jobs. Getting an SBA Loan For Your Business If you are working on finding money to start a business in Little Neck NY, you ought to talk with a local Little Neck SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Little Neck businesses. 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 SBA Participating Banks in Nevada
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