Bank Loans for Power, Distribution, and Specialty Transformer Manufacturing

With these bank 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 $1,338,000 was given to a California entrepreneur in 2004.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Orange, California was able to borrow $1,338,000 from U.S. Bank National Association. The SBA made the loan possible by guaranteeing $1,003,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: POWER, DISTRIBUTION, AND SPECIALTY TRANSFORMER MANUFACTURING
ORANGE, CA 92688

SBA Loan Lender

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

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

4/26/2004

Loan Approval Gross Amount

$1,338,000

Loan Approval from the SBA

Of the total $1,338,000 loan amount, the SBA guaranteed $1,003,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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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