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November 21, 2024 |
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| Home > Small Business Lenders by State > Utah Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Used Car Dealers Loan | ||||
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SBA Lenders in Utah
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Small Business Loans for Used Car DealersLooking for small business loans for used car dealers? Try the SBA. This $50,000 used car dealers loan was issued by a Nevada bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Murray, Utah was able to borrow $50,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $25,000 of this Utah small business loan. SBA Loan Borrower COMPANY TYPE: USED CAR DEALERS 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 441120 - Used Car Dealers Loan Approval Date 2/16/2007 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. This loan was not for a franchise. At the time of the loan, the company had only one employee. This SBA loan request indicated that the loan would help retain 1 existing job. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Washington Mutual Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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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