California Business Loan Issued to Armature Rewinding Shops Company

CaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, an Ohio bank provides the loan.

Getting a small business loan in Mcclellan, California was a top priority for this particular business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from U.S. Bank National Association. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: ARMATURE REWINDING SHOPS
MCCLELLAN, CA 95652

SBA Loan Lender

U.S. BANK NATIONAL ASSOCIATION
425 WALNUT ST
CINCINNATI, OH 45202

This lender issued this SBA small business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

7694 - Armature Rewinding Shops

NAICS Code

811310 - Commercial and Industrial Machinery and Equipment

Loan Approval Date

3/10/2003

Loan Approval Gross Amount

$340,500

Loan Approval from the SBA

Of the total $340,500 loan amount, the SBA guaranteed $255,375.

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 16 employees. This SBA loan request did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $340,500 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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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