Get an SBA Loan for Electronic Component Manufacturing
Looking for small business loans for electronic component manufacturing? Talk to a banker who works with the SBA. This $50,000 electronic component manufacturing loan was issued by a California bank.
This small firm received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Citibank, out of San Francisco, California. The loan was granted and they received $50,000 to help grow their San Jose, California business.
SBA Loan Borrower
COMPANY TYPE: ELECTRONIC COMPONENT MANUFACTURING
SAN JOSE, CA 95112
SBA Loan Lender
CITIBANK
ONE SANSOME ST
SAN FRANCISCO, CA 94104
This loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.
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
334419 - Electronic Component Manufacturing
Loan Approval Date
5/12/2004
Loan Approval Gross Amount
$50,000
Loan Approval from the SBA
Of the total $50,000 loan amount, the SBA guaranteed $25,000.
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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.
Next Steps for Getting an SBA Loan
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
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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