Financing for Wood Office Furniture Manufacturing

Looking for loans for wood office furniture manufacturing? An SBA loan may be just what you've been looking for. This $244,500 wood office furniture manufacturing loan was issued by a California bank.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with American Security Bank, out of Santa Ana, California. The loan was granted and they received $244,500 to help grow their Palmdale, California business.

SBA Loan Borrower

COMPANY TYPE: WOOD OFFICE FURNITURE MANUFACTURING
PALMDALE, CA 93550

SBA Loan Lender

AMERICAN SECURITY BANK
1 MACARTHUR PL, STE 110
SANTA ANA, CA 92707

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide small business loans to American small businesses.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337211 - Wood Office Furniture Manufacturing

Loan Approval Date

12/13/2001

Loan Approval Gross Amount

$244,500

Loan Approval from the SBA

Of the total $244,500 loan amount, the SBA guaranteed $183,375.

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 funding to increase staffing levels or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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.

Related Links:

Bank Credit Lines

Who Lends Money to Small Businesses in Santa Ana, California

Getting an SBA Loan in California