Raising Money for Ice Cream and Frozen Dessert Manufacturing

With these bank loans for ice cream and frozen dessert manufacturing, the SBA guarantees the lender that the loan will be repaid. This ice cream and frozen dessert manufacturing loan for $800,000 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in City Of Industry, California was able to borrow $800,000 from Far East National Bank. The SBA made the loan possible by guaranteeing $600,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: ICE CREAM AND FROZEN DESSERT MANUFACTURING
CITY OF INDUSTRY, CA 91746

SBA Loan Lender

FAR EAST NATIONAL BANK
977 N BROADWAY
LOS ANGELES, CA 90012

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

7/5/2004

Loan Approval Gross Amount

$800,000

Loan Approval from the SBA

Of the total $800,000 loan amount, the SBA guaranteed $600,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 18 employees. The SBA loan documents indicated that the loan would help generate 18 new jobs and retain 18 existing jobs.

Getting an SBA Loan For Your Business

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

We can help you find the best banks for small businesses in City Of Industry or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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Role of Business Plan When Raising Money

SBA 7A Banks in Los Angeles, California

Getting an SBA Loan in California