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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Far East National Bank Los Angeles Business Loans > Prefabricated Metal Building And Component Manufacturing Loan | ||||
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We Needed a Small Business Loan in Rancho Cucamonga, California and We Got One!
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How to Get a Loan for Prefabricated Metal Building and Component ManufacturingWith these business loans for prefabricated metal building and component manufacturing, the SBA guarantees the lender that the loan will be repaid. This prefabricated metal building and component manufacturing loan for $150,000 was given to a California entrepreneur in 2005. This small business knew how to go about getting a business bank loan. Based in Rancho Cucamonga, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Far East National Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: PREFABRICATED METAL BUILDING AND COMPONENT MANUFACTURING SBA Loan Lender FAR EAST NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332311 - Prefabricated Metal Building and Component Manufacturing Loan Approval Date 9/30/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $105,000. 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 25 employees. This SBA loan request indicated that the loan would help generate 25 new jobs and retain 25 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans provide money to small business owners for working capital for other expenses. 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: Realistic Debt Financing Options SBA 7A Banks in Los Angeles, California
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