Getting an SBA Loan for Painting and Wall Covering Contractors

Looking for commercial loans for painting and wall covering contractors? Talk to a banker who works with the SBA. This $93,500 painting and wall covering contractors loan was issued by a Washington bank.

This small business received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Numerica Cu, out of Spokane, Washington. The loan was granted and they received $93,500 to help grow their Spokane, Washington business.

SBA Loan Borrower

COMPANY TYPE: PAINTING AND WALL COVERING CONTRACTORS
SPOKANE, WA 99206

SBA Loan Lender

NUMERICA CU
301 N HAVANA
SPOKANE, WA 99202

This debt financing was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

238320 - Painting and Wall Covering Contractors

Loan Approval Date

4/4/2006

Loan Approval Gross Amount

$93,500

Loan Approval from the SBA

Of the total $93,500 loan amount, the SBA guaranteed $79,475.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 13 employees. The loan application did not indicate that the SBA funding recipient promised to use the money to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you need money to start business in Spokane WA, you ought to talk with a local Spokane SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Spokane 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.

Related Links:

Small Business Loan

SBA 7A Banks for Spokane, Washington Loans

SBA Washington Banks