Omak, Washington Business Gets SBA-Guaranteed Funding from U.S. Bank National Association

U.S. Bank National Association has a track record as a leading provider of SBA loans. Find out how this Washington entrepreneur received an SBA loan from them.

This small firm knew how to go about getting a business bank loan. Based in Omak, Washington, they applied for and received an SBA-guaranteed loan in 2003. The lending bank was U.S. Bank National Association, based in San Diego, California.

SBA Loan Borrower

COMPANY TYPE: FITNESS AND RECREATIONAL SPORTS CENTERS
OMAK, WA 98841

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
9918 HIBERT ST, STE 100
SAN DIEGO, CA 92131

This bank loan was financed by an SBA Certified Lenders Program (CLP) lender. CLP lenders perform a thorough analysis of the loan application and, in return, SBA promises a fast loan decision.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

713940 - Fitness and Recreational Sports Centers

Loan Approval Date

11/20/2003

Loan Approval Gross Amount

$455,500

Loan Approval from the SBA

Of the total $455,500 loan amount, the SBA guaranteed $341,625.

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 16 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

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

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 Business Loan

SBA Approved Banks in San Diego, California

Getting an SBA Loan in California