Borrowing Money for Building Material Dealers

Looking for loans for building material dealers? Talk to a banker who works with the SBA. This $99,500 building material dealers loan was issued by a California bank.

This small firm knew how to go about getting a business bank loan. Based in Hesperia, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was East West Bank, A Division Of, based in Victorville, California.

SBA Loan Borrower

COMPANY TYPE: BUILDING MATERIAL DEALERS
HESPERIA, CA 92345

SBA Loan Lender

EAST WEST BANK, A DIVISION OF
12530 HESPERIA RD, STE 101
VICTORVILLE, CA 92392

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

444190 - Building Material Dealers

Loan Approval Date

11/26/2002

Loan Approval Gross Amount

$99,500

Loan Approval from the SBA

Of the total $99,500 loan amount, the SBA guaranteed $84,575.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan application for the borrower indicated that the loan would help retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

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.

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:

Small Business Credit Cards

Banks in Victorville, California

California SBA 7A Banks