Getting an SBA Loan for Food Product Machinery Manufacturing

With these business loans for food product machinery manufacturing, the SBA guarantees the lender that the loan will be repaid. This food product machinery manufacturing loan for $815,870 was given to a California entrepreneur in 2001.

Getting a small business loan in Fresno, California was important for this business back in 2001 and, based on their loan application, they were successful in getting an SBA loan from Citibank, operating out of San Francisco, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD PRODUCT MACHINERY MANUFACTURING
FRESNO, CA 93706

SBA Loan Lender

CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104

This debt financing was issued under the SBA's Certified Lenders Program (CLP), which means that the lender has a successful SBA lending track record and are well trained in SBA loan requirements.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333294 - Food Product Machinery Manufacturing

Loan Approval Date

12/20/2001

Loan Approval Gross Amount

$815,870

Loan Approval from the SBA

Of the total $815,870 loan amount, the SBA guaranteed $611,903.

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 23 employees. The SBA loan documents did not indicate that the SBA funding recipient planned to use the loan proceeds to hire new employees or retain any existing employees.

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.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Citibank and they will explain how you can get an SBA loan for your company.

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.

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