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November 15, 2024 |
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| Home > Small Business Lenders by State > Minnesota Business Loan Sources > San Diego, Business Loans > U.S. Bank National Association San Diego Business Loans > Dried And Dehydrated Food Manufacturing Loan | ||||
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California SBA Lenders
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Entrepreneur Works With San Diego, California Bank to Get an SBA LoanA San Diego, California small business loan can be yours. Learn how a company got a $1,333,300 business loan from this California bank. This loan to an entrepreneur is a good example of an SBA loan. U.S. Bank National Association made the loan and the SBA guaranteed a portion of the loan. Many other Minnesota entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: DRIED AND DEHYDRATED FOOD MANUFACTURING SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This commercial loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311423 - Dried and Dehydrated Food Manufacturing Loan Approval Date 12/23/2003 Loan Approval Gross Amount $1,333,300 Loan Approval from the SBA Of the total $1,333,300 loan amount, the SBA guaranteed $999,975. 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 20 employees. The SBA loan application for the borrower did not indicate that the small business promised to use the money to increase staffing levels 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 7A Banks for San Diego, California Loans Browse All Business Loan Sources for California
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