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December 22, 2024 |
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| Home > Small Business Lenders by State > Arizona Business Loan Sources > Santa Barbara, Business Loans > Pacific Cap. Bank Santa Barbara Business Loans > Wood Product Manufacturing Loan | ||||
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SBA Loan from Pacific Cap. Bank
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SBA Loan from Pacific Cap. Bank Helps Wood Product Manufacturing CompanyAn SBA loan from Pacific Cap. Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Flagstaff, Arizona business owner got a $328,000 loan. This growing company knew how to go about getting a business bank loan. Based in Flagstaff, Arizona, they applied for and received an SBA-guaranteed loan in 2005. The lending bank was Pacific Cap. Bank, based in Santa Barbara, California. SBA Loan Borrower COMPANY TYPE: WOOD PRODUCT MANUFACTURING SBA Loan Lender PACIFIC CAP. BANK This lender provides SBA loan for small businesses 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 321999 - Wood Product Manufacturing Loan Approval Date 12/9/2005 Loan Approval Gross Amount $328,000 Loan Approval from the SBA Of the total $328,000 loan amount, the SBA guaranteed $246,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. 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: Microlending as a Small Business Funding Source SBA 7A Banks for Santa Barbara, California Loans
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