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November 21, 2024 |
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| Home > Small Business Lenders by State > New Jersey Business Loan Sources > Henderson, Business Loans > Washington Mutual Bank Henderson Business Loans > Grocery Stores Loan | ||||
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Washington Mutual Bank
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Business Loan from Washington Mutual Bank Given to Grocery Stores CompanyWashington Mutual Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a New Jersey entrepreneur was able to get a loan to take a small business to the next level. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pennsauken (pensauken), New Jersey was able to borrow $425,000 from Washington Mutual Bank. The SBA made the loan possible by guaranteeing $318,750 of this New Jersey small business loan. SBA Loan Borrower COMPANY TYPE: GROCERY STORES SBA Loan Lender WASHINGTON MUTUAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5411 - Grocery Stores Loan Approval Date 2/8/2000 Loan Approval Gross Amount $425,000 Loan Approval from the SBA Of the total $425,000 loan amount, the SBA guaranteed $318,750. More Information on This SBA Loan The borrower borrowed this money for a new 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 6 employees. The SBA loan application for the borrower indicated that the funding would help create 6 new jobs. Next Steps for Getting an SBA Loan If you need business start up money in Pennsauken (pensauken) NJ, you ought to talk with a local Pennsauken (pensauken) SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pennsauken (pensauken) businesses. If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Washington Mutual Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Banking Deregulation's Effects on Entrepreneurship
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