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December 21, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Seattle, Business Loans > Evergreenbank Seattle Business Loans > Electromedical And Electrotherapeutic Apparatus Manufacturing Loan | ||||
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Evergreenbank Loans
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How to Get a Loan for Electromedical and Electrotherapeutic Apparatus ManufacturingLooking for SBA loans for electromedical and electrotherapeutic apparatus manufacturing? The SBA may be the answer. This $150,000 electromedical and electrotherapeutic apparatus manufacturing loan was issued by a Washington bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Seattle, Washington was able to borrow $150,000 from Evergreenbank. The SBA made the loan possible by guaranteeing $127,500 of this Washington small business loan. SBA Loan Borrower COMPANY TYPE: ELECTROMEDICAL AND ELECTROTHERAPEUTIC APPARATUS MANUFACTURING SBA Loan Lender EVERGREENBANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with appliying for an SBA loan . The low-doc program is quick, requiring completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334510 - Electromedical and Electrotherapeutic Apparatus Manufacturing Loan Approval Date 12/8/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 9 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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 Evergreenbank 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: Role of Business Plan When Raising Money Small Bank Loans in Seattle, Washington
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