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December 22, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Spokane, Business Loans > Sterling Savings Bank Spokane Business Loans > Hobby, Toy, And Game Stores Loan | ||||
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Sterling Savings Bank SBA 7A Loans
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Hobby, Toy, and Game Stores Small Business LoansLooking for small business loans for hobby, toy, and game stores? The SBA may be the answer. This $385,000 hobby, toy, and game stores loan was issued by a Washington bank. This small firm knew how to go about getting a business bank loan. Based in Spokane, Washington, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Sterling Savings Bank, based in Spokane, Washington. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME STORES SBA Loan Lender STERLING SAVINGS BANK When it made this small business loan, the lender participated in the SBA's Certified Lenders Program (CLP). This program was created to provide speedy service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the 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 451120 - Hobby, Toy, and Game Stores Loan Approval Date 3/11/2005 Loan Approval Gross Amount $385,000 Loan Approval from the SBA Of the total $385,000 loan amount, the SBA guaranteed $288,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 21 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? 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: Raising VC Money for Social Networking Companies Find an SBA Lender in Spokane, Washington
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