Washington Bank Loan Issued to Industrial Machinery And Equipment Wholesalers Company

Would a Washington SBA loan help your business get to the next level? If so, you may want to talk with this Washington bank, which offers SBA loans to Washington entrepreneurs.

You can learn something about getting a small business loan in Spokane, Washington by studying this loan to a local business, made back in 2002. Banks like Washington Trust Bank may also be willing to lend to you, given that they granted this small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS
SPOKANE, WA 99212

SBA Loan Lender

WASHINGTON TRUST BANK
717 W SPRAGUE AVE
SPOKANE, WA 99201

At the time this loan was granted, this lending institution participated in the SBA's Certified Lenders Program (CLP). This program is designed to provide expeditious 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

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

7/18/2002

Loan Approval Gross Amount

$338,000

Loan Approval from the SBA

Of the total $338,000 loan amount, the SBA guaranteed $253,500.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

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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Best Spokane, Washington Banks for Small Business

SBA Participating Banks in Washington