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November 21, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > Community Bank Pasadena Business Loans > Flour Milling Loan | ||||
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Small Business Banks for Ontario, California Business Owners
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Flour Milling LoansWith these loans for flour milling, the SBA guarantees the lender that the loan will be repaid. This flour milling loan for $510,000 was given to a California entrepreneur in 2003. This company received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with Community Bank, out of Pasadena, California. The loan was granted and they received $510,000 to help grow their Ontario, California business. SBA Loan Borrower COMPANY TYPE: FLOUR MILLING SBA Loan Lender COMMUNITY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 311211 - Flour Milling Loan Approval Date 9/8/2003 Loan Approval Gross Amount $510,000 Loan Approval from the SBA Of the total $510,000 loan amount, the SBA guaranteed $382,500. 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 17 employees. The SBA loan documents indicated that the loan would help generate 8 new jobs and retain 17 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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 Banks in Pasadena, California
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