Commercial Loans for Gasket, Packing, and Sealing Device Manufacturing

With these commercial loans for gasket, packing, and sealing device manufacturing, the SBA guarantees the lender that the loan will be repaid. This gasket, packing, and sealing device manufacturing loan for $1,330,000 was given to a California entrepreneur in 2001.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gardena, California was able to borrow $1,330,000 from Comerica Bank. The SBA made the loan possible by guaranteeing $997,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: GASKET, PACKING, AND SEALING DEVICE MANUFACTURING
GARDENA, CA 90248

SBA Loan Lender

COMERICA BANK
1717 MAIN
DALLAS, TX 75201

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

339991 - Gasket, Packing, and Sealing Device Manufacturing

Loan Approval Date

7/6/2001

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

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. The loan application indicated that the loan would help generate 40 new jobs and retain 40 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Comerica Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Comerica 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.

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