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November 21, 2024 |
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| Home > Small Business Lenders by State > Illinois Business Loan Sources > Sacramento, Business Loans > California Bank & Trust Sacramento Business Loans > Broadwoven Fabric Finishing Mills Loan | ||||
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SBA Lenders California
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Sacramento, California Bank Gives SBA Loan to Broadwoven Fabric Finishing Mills CompanyA Sacramento, California SBA loan can be yours. Learn how one firm got a $1,049,000 business loan from this California bank. This loan to an entrepreneur is a good example of an SBA loan. California Bank & Trust made the loan and the SBA guaranteed a portion of the loan. Many other Illinois entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BROADWOVEN FABRIC FINISHING MILLS SBA Loan Lender CALIFORNIA BANK & TRUST The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American small businesses. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 313311 - Broadwoven Fabric Finishing Mills Loan Approval Date 5/7/2004 Loan Approval Gross Amount $1,049,000 Loan Approval from the SBA Of the total $1,049,000 loan amount, the SBA guaranteed $786,750. 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 8 employees. The loan application did not indicate that the small business planned to use the loan proceeds to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA loans provide money to small business owners for working capital for other expenses. 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: Where to Get an SBA Loan in Sacramento, California
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