Huntington Beach, California Bank Gives SBA Loan to Broadwoven Fabric Mills, Cotton Company

Find Huntington Beach, California banks that specialize in small business loans and know how to work with entrepreneurs. First Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in City Of Industry (industry), California starts with an understanding of who else has gotten loans in the area. In this case, a local company received funding from First Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: BROADWOVEN FABRIC MILLS, COTTON
CITY OF INDUSTRY (INDUSTRY), CA 91748

SBA Loan Lender

FIRST BANK
16900 GOLDENWEST ST
HUNTINGTON BEACH, CA 92647

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.

SIC Code

2211 - Broadwoven Fabric Mills, Cotton

NAICS Code

313210 - Broadwoven Fabric Mills

Loan Approval Date

2/15/2000

Loan Approval Gross Amount

$938,900

Loan Approval from the SBA

Of the total $938,900 loan amount, the SBA guaranteed $704,175.

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 9 employees. The SBA loan documents indicated that the loan would help generate 9 new jobs and retain 9 existing jobs.

Next Steps for Getting an SBA Loan

SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $938,900 loan. Remember, where there is a will, there is a way!

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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