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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 > Power, Distribution, And Specialty Transformer Manufacturing Loan | ||||
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Business Loans for Ontario Business Owners
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Small Business Loans for Power, Distribution, and Specialty Transformer ManufacturingWith these small business loans for power, distribution, and specialty transformer manufacturing, the SBA guarantees the lender that the loan will be repaid. This power, distribution, and specialty transformer manufacturing loan for $750,000 was given to a California entrepreneur in 2001. This small firm received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Community Bank, out of Pasadena, California. The loan was granted and they received $750,000 to help grow their Ontario, California business. SBA Loan Borrower COMPANY TYPE: POWER, DISTRIBUTION, AND SPECIALTY TRANSFORMER MANUFACTURING SBA Loan Lender COMMUNITY BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 335311 - Power, Distribution, and Specialty Transformer Manufacturing Loan Approval Date 3/9/2001 Loan Approval Gross Amount $750,000 Loan Approval from the SBA Of the total $750,000 loan amount, the SBA guaranteed $562,500. 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 7 employees. The loan application indicated that the loan would help generate 9 new jobs and retain 7 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must 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. 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 $750,000 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. Related Links: Where to Get an SBA Loan in Pasadena, California
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