Pasadena, California Business Gets SBA-Guaranteed Funding from Professional Business Bank

An SBA loan from Professional Business Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Pasadena, California business owner got a $692,000 loan.

This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Professional Business Bank, out of Pasadena, California. The loan was granted and they received $692,000 to help grow their Pasadena, California business.

SBA Loan Borrower

COMPANY TYPE: ELECTRONIC COIL, TRANSFORMER, AND INDUCTOR MANUFACTURING
PASADENA, CA 91107

SBA Loan Lender

PROFESSIONAL BUSINESS BANK
199 S LOS ROBLES AVE, STE 130
PASADENA, CA 91101

This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

334416 - Electronic Coil, Transformer, and Inductor Manufacturing

Loan Approval Date

9/30/2002

Loan Approval Gross Amount

$692,000

Loan Approval from the SBA

Of the total $692,000 loan amount, the SBA guaranteed $519,000.

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 30 employees. This SBA loan request did not indicate that the business promised to use the funding to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

If you are wondering how to raise money for a business in Pasadena CA, you ought to talk with a local Pasadena SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Pasadena businesses.

Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $692,000 loan. Remember, feel the fear, and do it anyway.

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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