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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > Community Bank Pasadena Business Loans > Sheet Metal Work Manufacturing Loan | ||||
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CA Business Loan from Community Bank
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Mission Viejo, California Business Gets SBA-Guaranteed Funding from Community BankCommunity Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Mission Viejo, California was able to borrow $150,000 from Community Bank. The SBA made the loan possible by guaranteeing $75,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: SHEET METAL WORK MANUFACTURING SBA Loan Lender COMMUNITY BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332322 - Sheet Metal Work Manufacturing Loan Approval Date 8/8/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Community Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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: A Company That Helps Entrepreneurs SBA Approved Banks in Pasadena, California Where to Get an SBA Loan California
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