Bank Loans for Rubber Product Manufacturing

With these bank loans for rubber product manufacturing, the SBA guarantees the lender that the loan will be repaid. This rubber product manufacturing loan for $79,000 was given to a California entrepreneur in 2007.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Riverside, California was able to borrow $79,000 from Bank Of America. The SBA made the loan possible by guaranteeing $67,150 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: RUBBER PRODUCT MANUFACTURING
RIVERSIDE, CA 92503

SBA Loan Lender

BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

326299 - Rubber Product Manufacturing

Loan Approval Date

9/28/2007

Loan Approval Gross Amount

$79,000

Loan Approval from the SBA

Of the total $79,000 loan amount, the SBA guaranteed $67,150.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 12 employees. The SBA loan application for the borrower indicated that the loan would help generate 1 new job and retain 12 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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