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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > National Bank Of California Los Angeles Business Loans > Nonupholstered Wood Household Furniture Manufacturing Loan | ||||
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I Need an SBA Loan in Los Angeles, California
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Nonupholstered Wood Household Furniture Manufacturing LoansWith these loans for nonupholstered wood household furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This nonupholstered wood household furniture manufacturing loan for $305,000 was given to a California entrepreneur in 2003. This small firm knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National Bank Of California, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: NONUPHOLSTERED WOOD HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender NATIONAL BANK OF CALIFORNIA 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 337122 - Nonupholstered Wood Household Furniture Manufacturing Loan Approval Date 12/5/2003 Loan Approval Gross Amount $305,000 Loan Approval from the SBA Of the total $305,000 loan amount, the SBA guaranteed $228,750. 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 20 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 30 existing jobs. Great, But How Can I Get an SBA Loan for My Business? 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 Participating Banks in Los Angeles, California
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