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November 15, 2024 |
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| Home > Small Business Lenders by State > Washington Business Loan Sources > Wenatchee, Business Loans > Washington Trust Bank Wenatchee Business Loans > Men's And Boys' Cut And Sew Apparel Contractors Loan | ||||
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Washington Trust Bank
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Business Loan from Washington Trust Bank Given to Men's And Boys' Cut And Sew Apparel Contractors CompanyWashington Trust Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one Washington entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Washington Trust Bank, out of Wenatchee, Washington. The loan was granted and they received $30,000 to help grow their Wenatchee, Washington business. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW APPAREL CONTRACTORS SBA Loan Lender WASHINGTON TRUST BANK This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 315211 - Men's and Boys' Cut and Sew Apparel Contractors Loan Approval Date 12/6/2004 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $25,500. 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 4 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. This company got an SBA loan. You can too! Maybe you are raising money for operating expenses? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 Bank Loans in Wenatchee, Washington Getting an SBA Loan in Washington
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