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November 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Canned Fruits, Vegetables, Preserves And Jams Loan | ||||
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Raising Money in Gardena, California With SBA Loans
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Fruit and Vegetable Canning LoansLooking for loans for fruit and vegetable canning? An SBA loan may be just what you've been looking for. This $340,000 fruit and vegetable canning loan was issued by a California bank. This company received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with Wilshire State Bank, out of Los Angeles, California. The loan was granted and they received $340,000 to help grow their Gardena, California business. SBA Loan Borrower COMPANY TYPE: CANNED FRUITS, VEGETABLES, PRESERVES AND JAMS SBA Loan Lender WILSHIRE STATE BANK This lender provides SBA loans 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. SIC Code 2033 - Canned Fruits, Vegetables, Preserves and Jams NAICS Code 311421 - Fruit and Vegetable Canning Loan Approval Date 1/7/2000 Loan Approval Gross Amount $340,000 Loan Approval from the SBA Of the total $340,000 loan amount, the SBA guaranteed $255,000. 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 10 employees. The SBA loan application for the borrower did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: SBA Approved Banks in Los Angeles, California
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