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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > Community Bank Pasadena Business Loans > Wood Office Furniture Manufacturing Loan | ||||
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California Business Loan from Community Bank
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SBA Loan from Community Bank Helps Wood Office Furniture Manufacturing CompanyAn SBA loan from Community Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fontana, California business owner got a $577,000 loan. This small firm received financial assistance through the SBA's lending programs back in 2006. They applied for an SBA loan with Community Bank, out of Pasadena, California. The loan was granted and they received $577,000 to help grow their Fontana, California business. SBA Loan Borrower COMPANY TYPE: WOOD OFFICE FURNITURE MANUFACTURING SBA Loan Lender COMMUNITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 337211 - Wood Office Furniture Manufacturing Loan Approval Date 10/13/2006 Loan Approval Gross Amount $577,000 Loan Approval from the SBA Of the total $577,000 loan amount, the SBA guaranteed $432,750. 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 17 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Best Pasadena, California Banks for Small Business
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