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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Sioux Falls, Business Loans > Wells Fargo Bank Sioux Falls Business Loans > Precision Turned Product Manufacturing Loan | ||||
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I Need a Loan in Chatsworth, California
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Raising Money for Precision Turned Product ManufacturingLooking for bank loans for precision turned product manufacturing? The SBA may be the answer. This $400,000 precision turned product manufacturing loan was issued by a South Dakota bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chatsworth, California was able to borrow $400,000 from Wells Fargo Bank. The SBA made the loan possible by guaranteeing $300,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING SBA Loan Lender WELLS FARGO BANK 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 332721 - Precision Turned Product Manufacturing Loan Approval Date 11/28/2007 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $300,000. 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 9 employees. The SBA loan application for the borrower indicated that the loan would help generate 9 new jobs and retain 9 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $400,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 From a Venture Capitalist SBA Approved Banks in Sioux Falls, South Dakota
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