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November 14, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Victorville, Business Loans > East West Bank, A Division Of Victorville Business Loans > Special Trade Contractors Loan | ||||
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Small Business Banks for San Bernardino Small Businesses
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Borrowing Money for Special Trade ContractorsLooking for loans for special trade contractors? An SBA loan may be just what you've been looking for. This $150,000 special trade contractors loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Bernardino, California was able to borrow $150,000 from East West Bank, A Division Of. The SBA made the loan possible by guaranteeing $75,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: SPECIAL TRADE CONTRACTORS SBA Loan Lender EAST WEST BANK, A DIVISION OF The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 235990 - Special Trade Contractors Loan Approval Date 6/1/2001 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 10 new jobs and retain 20 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money 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: Best Banks in Victorville, California Getting an SBA Loan in California
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