Financing for Outdoor Power Equipment Stores

Looking for loans for outdoor power equipment stores? An SBA loan may be just what you've been looking for. This $275,000 outdoor power equipment stores loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Seattle, Washington, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California.

SBA Loan Borrower

COMPANY TYPE: OUTDOOR POWER EQUIPMENT STORES
SEATTLE, WA 98115

SBA Loan Lender

WELLS FARGO BANK
121 PARK CENTER PLZ
SAN JOSE, CA 95113

This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

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

444210 - Outdoor Power Equipment Stores

Loan Approval Date

2/18/2005

Loan Approval Gross Amount

$275,000

Loan Approval from the SBA

Of the total $275,000 loan amount, the SBA guaranteed $137,500.

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 only one employee. The loan application did not indicate that the business planned to use the loan proceeds to increase staffing levels or retain any existing employees.

Getting an SBA Loan For Your Business

If you are wondering how to raise money for a business in Seattle WA, you ought to talk with a local Seattle SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Seattle businesses.

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.

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