Chino, California Business Gets SBA-Guaranteed Funding from Citibank

An SBA loan from Citibank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Chino, California business owner got a $680,400 loan.

Getting a small business loan in Chino, California was an essential business goal for this company back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of San Francisco, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT WHOLESALERS
CHINO, CA 91710

SBA Loan Lender

CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

421830 - Industrial Machinery and Equipment Wholesalers

Loan Approval Date

8/22/2002

Loan Approval Gross Amount

$680,400

Loan Approval from the SBA

Of the total $680,400 loan amount, the SBA guaranteed $510,300.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. This SBA loan request indicated that the loan would help generate 5 new jobs and retain 10 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citibank and they will explain how you can get an SBA loan for your company.

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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