Borrowing Money for Musical Instrument and Supplies Stores

With these small business loans for musical instrument and supplies stores, the SBA guarantees the lender that the loan will be repaid. This musical instrument and supplies stores loan for $60,758 was given to a Washington entrepreneur in 2002.

This small firm knew how to go about getting a business bank loan. Based in Redmond, Washington, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Charter Bank, based in Bellevue, Washington.

SBA Loan Borrower

COMPANY TYPE: MUSICAL INSTRUMENT STORES
REDMOND, WA 98052

SBA Loan Lender

CHARTER BANK
10885 NE 4TH ST, STE 100
BELLEVUE, WA 98004

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This debt financing was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5736 - Musical Instrument Stores

NAICS Code

451140 - Musical Instrument and Supplies Stores

Loan Approval Date

2/6/2002

Loan Approval Gross Amount

$60,758

Loan Approval from the SBA

Of the total $60,758 loan amount, the SBA guaranteed $51,644.

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 3 employees. The SBA loan application for the borrower did not indicate that the company planned to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

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

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Charter Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Charter Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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.

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SBA 7A Lenders in Bellevue, Washington

Washington SBA Banks