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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > Drywall And Insulation Contractors Loan | ||||
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Advice for Entrepreneurs On Getting a Loan
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Loans for Drywall and Insulation ContractorsWith these loans for drywall and insulation contractors, the SBA guarantees the lender that the loan will be repaid. This drywall and insulation contractors loan for $30,000 was given to a California entrepreneur in 2007. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Citrus Heights, California was able to borrow $30,000 from Citibank. The SBA made the loan possible by guaranteeing $15,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: DRYWALL AND INSULATION CONTRACTORS SBA Loan Lender CITIBANK The lender provided this debt financing through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 238310 - Drywall and Insulation Contractors Loan Approval Date 3/13/2007 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. 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: Obtaining Funding - How to Borrow Money Best Las Vegas, Nevada Banks for Small Business
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