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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Diego, Business Loans > Neighborhood National Bank San Diego Business Loans > Tobacco And Tobacco Product Merchant Wholesalers Loan | ||||
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Raising Money in El Cajon, California With SBA Loans
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Where to Get Capital for Tobacco and Tobacco Product Merchant WholesalersLooking for small business loans for tobacco and tobacco product merchant wholesalers? The SBA may be the answer. This $450,000 tobacco and tobacco product merchant wholesalers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Cajon, California was able to borrow $450,000 from Neighborhood National Bank. The SBA made the loan possible by guaranteeing $337,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: TOBACCO AND TOBACCO PRODUCT MERCHANT WHOLESALERS SBA Loan Lender NEIGHBORHOOD NATIONAL BANK This lender provides SBA loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424940 - Tobacco and Tobacco Product Merchant Wholesalers Loan Approval Date 5/19/2005 Loan Approval Gross Amount $450,000 Loan Approval from the SBA Of the total $450,000 loan amount, the SBA guaranteed $337,500. 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 4 employees. The loan application indicated that the loan would help generate 4 new jobs and retain 4 existing jobs. Getting an SBA Loan For Your Business If you are interested in getting money to start a business or need money to grow a business, an SBA loan can be a great source of funding. 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: Small Bank Loans in San Diego, California Find an SBA Lender in California
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