Business Loan from Boeing Empl Cu Given to Fruit And Vegetable Markets Company

Boeing Empl Cu and the SBA work together to get business loans for growing small businesses. Here's an example of how a Washington entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Tukwila, Washington was able to borrow $55,000 from Boeing Empl Cu. The SBA made the loan possible by guaranteeing $46,750 of this Washington small business loan.

SBA Loan Borrower

COMPANY TYPE: FRUIT AND VEGETABLE MARKETS
TUKWILA, WA 98168

SBA Loan Lender

BOEING EMPL CU
12770 GATEWAY DR
TUKWILA, WA 98168

This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. 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

445230 - Fruit and Vegetable Markets

Loan Approval Date

9/30/2005

Loan Approval Gross Amount

$55,000

Loan Approval from the SBA

Of the total $55,000 loan amount, the SBA guaranteed $46,750.

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 4 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you want money for new small business in Tukwila WA, you ought to talk with a local Tukwila SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Tukwila 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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