Rancho Cucamonga, California Entrepreneur Gets a Bank Loan

Small business loans in California are tough to come by these days. We take a look at one California small business loan, provided by a California bank, that was approved by the SBA.

This business, based in Rancho Cucamonga, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Gateway Business Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING
RANCHO CUCAMONGA, CA 91730

SBA Loan Lender

GATEWAY BUSINESS BANK
18000 STUDEBAKER RD, STE 550
CERRITOS, CA 90703

This lender provides SBA guaranteed business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

333511 - Industrial Mold Manufacturing

Loan Approval Date

11/24/2004

Loan Approval Gross Amount

$780,000

Loan Approval from the SBA

Of the total $780,000 loan amount, the SBA guaranteed $585,000.

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 9 employees. This SBA loan request indicated that the loan would help retain 9 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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 $780,000 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.

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