Borrowing Money for Power-Driven Handtool Manufacturing

With these loans for power-driven handtool manufacturing, the SBA guarantees the lender that the loan will be repaid. This power-driven handtool manufacturing loan for $50,000 was given to a California entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Murrieta, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Discovery Bank, based in San Marcos, California.

SBA Loan Borrower

COMPANY TYPE: POWER-DRIVEN HANDTOOL MANUFACTURING
MURRIETA, CA 92582

SBA Loan Lender

DISCOVERY BANK
338 VIA VERA CRUZ
SAN MARCOS, CA 92078

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

333991 - Power-Driven Handtool Manufacturing

Loan Approval Date

9/29/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

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 only one employee. This SBA loan request did not indicate that the company promised to use the loan proceeds to add employees or retain any existing employees.

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

Every year, the SBA guarantees over $10 billion for loans just like this one.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $50,000 loan. Remember, you control your own destiny.

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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Small Business Banks in San Marcos, California

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