Small Business Loans for Electric Housewares and Household Fan Manufacturing
With these small business loans for electric housewares and household fan manufacturing, the SBA guarantees the lender that the loan will be repaid. This electric housewares and household fan manufacturing loan for $97,000 was given to a California entrepreneur in 2005.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Oxnard, California was able to borrow $97,000 from Citibank. The SBA made the loan possible by guaranteeing $48,500 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRIC HOUSEWARES AND HOUSEHOLD FAN MANUFACTURING
OXNARD, CA 93036
SBA Loan Lender
CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104
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
335211 - Electric Housewares and Household Fan Manufacturing
Loan Approval Date
11/25/2005
Loan Approval Gross Amount
$97,000
Loan Approval from the SBA
Of the total $97,000 loan amount, the SBA guaranteed $48,500.
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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.
Next Steps for Getting an SBA Loan
Every year, the SBA guarantees over $10 billion for loans just like this one.
Unless you are not in a hurry to get an SBA loan, it's best to work with a bank like Citibank that has already issued SBA-guaranteed loans. To get an SBA loan fast, work with a bank that participates in the SBA's Preferred Lenders Program (PLP).
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:
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Getting an SBA Loan in California