Getting an SBA Loan for Broadwoven Fabric Finishing Mills

With these SBA loans for broadwoven fabric finishing mills, the SBA guarantees the lender that the loan will be repaid. This broadwoven fabric finishing mills loan for $170,000 was given to a California entrepreneur in 2006.

This business knew how to go about getting a business bank loan. Based in Gardena, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Commonwealth Business Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: BROADWOVEN FABRIC FINISHING MILLS
GARDENA, CA 90248

SBA Loan Lender

COMMONWEALTH BUSINESS BANK
5055 WILSHIRE BLVD, STE 100
LOS ANGELES, CA 90036

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

313311 - Broadwoven Fabric Finishing Mills

Loan Approval Date

2/6/2006

Loan Approval Gross Amount

$170,000

Loan Approval from the SBA

Of the total $170,000 loan amount, the SBA guaranteed $127,500.

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 40 employees. This SBA loan request indicated that the loan would help retain 40 existing jobs.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Commonwealth Business Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Commonwealth Business Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Debt Financing

SBA Approved Banks in Los Angeles, California

Getting an SBA Loan in California