South Cnty Bank Gives SBA Loan to Broadwoven Fabric Mills, Manmade Fiber And Silk Company

Want a California bank loan? This California entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners.

This business, based in Rancho Santa Margarita, 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 South Cnty Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BROADWOVEN FABRIC MILLS, MANMADE FIBER AND SILK
RANCHO SANTA MARGARITA, CA 92688

SBA Loan Lender

SOUTH CNTY BANK
22342 AVENIDA EMPRESA, STE A1
RANCHO SANTA MARGARIT, CA 92688

This business loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

2221 - Broadwoven Fabric Mills, Manmade Fiber and Silk

NAICS Code

313210 - Broadwoven Fabric Mills

Loan Approval Date

9/19/2002

Loan Approval Gross Amount

$231,000

Loan Approval from the SBA

Of the total $231,000 loan amount, the SBA guaranteed $173,250.

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 36 employees. The SBA loan documents did not indicate that the company planned to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 $231,000 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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