City National Bank SBA Loan to Fabricated Metal Products Company

Searching for a California SBA loan? Here's one California business loan that was approved by the SBA.

This small business needed an SBA business loan in Riverside, California back in 2000 and, after submitting their loan application, they were successful in getting an SBA loan from City National Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCTS
RIVERSIDE, CA 92503

SBA Loan Lender

CITY NATIONAL BANK
606 S OLIVE ST
LOS ANGELES, CA 90014

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3499 - Fabricated Metal Products

Loan Approval Date

2/16/2000

Loan Approval Gross Amount

$1,147,500

Loan Approval from the SBA

Of the total $1,147,500 loan amount, the SBA guaranteed $749,994.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 65 employees. The loan application indicated that the loan would help generate 65 new jobs and retain 65 existing jobs.

Getting an SBA Loan For Your Business

Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. City National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, City National Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Obtaining Funding - How to Decide How Much to Raise

SBA Approved Banks in Los Angeles, California

Getting an SBA Loan in California