Citibank Gives Small Business Loan to Plastics Material And Resin Manufacturing Company

CaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a Florida bank provides the loan.

This small business, based in Fountain Valley (talbert), California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Citibank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: PLASTICS MATERIAL AND RESIN MANUFACTURING
FOUNTAIN VALLEY (TALBERT), CA 92708

SBA Loan Lender

CITIBANK
8750 DORAL BLVD, 7TH FL
MIAMI, FL 33178

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

325211 - Plastics Material and Resin Manufacturing

Loan Approval Date

7/17/2001

Loan Approval Gross Amount

$25,000

Loan Approval from the SBA

Of the total $25,000 loan amount, the SBA guaranteed $12,500.

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 SBA loan documents indicated that the loan would help generate 750 new jobs and retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.

This company got an SBA loan. You can too! Maybe you need seed money for a small business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.

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:

Financing Your Business

Where to Get an SBA Loan in Miami, Florida

Getting a Business Loan in Florida