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December 22, 2024  
 
 
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Small Business Banks for Glendale, California Small Business Owners

 

 
Loan Census SBA Loan Info

Getting an SBA Loan for Machine Shops

With these business loans for machine shops, the SBA guarantees the lender that the loan will be repaid. This machine shops loan for $90,000 was given to a California entrepreneur in 2004.

This business knew how to go about getting a business bank loan. Based in Glendale, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Telesis Community Cu, based in Chatsworth, California.

SBA Loan Borrower

COMPANY TYPE: MACHINE SHOPS
GLENDALE, CA 91201

SBA Loan Lender

TELESIS COMMUNITY CU
9301 WINNETKA AVE
CHATSWORTH, CA 91311

This loan was provided via the SBA's LowDoc (Low Documentation) program. For these loans, the SBA can guarantee up to 80 percent of the loan amount. More importantly, completed applications are processed quickly by the SBA, usually within two or three days, and the required documentation to get a loan is minimal.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332710 - Machine Shops

Loan Approval Date

3/9/2004

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

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 2 employees. The SBA loan documents did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Telesis Community Cu that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).

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:

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