Industrial Supplies Merchant Wholesalers Bank Loans
Looking for bank loans for industrial supplies merchant wholesalers? An SBA loan may be just what you've been looking for. This $495,000 industrial supplies merchant wholesalers loan was issued by a California bank.
Getting a small business loan in San Leandro, California was important for this growing firm back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Wilshire State Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: INDUSTRIAL SUPPLIES MERCHANT WHOLESALERS
SAN LEANDRO, CA 94577
SBA Loan Lender
WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010
This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
423840 - Industrial Supplies Merchant Wholesalers
Loan Approval Date
9/29/2003
Loan Approval Gross Amount
$495,000
Loan Approval from the SBA
Of the total $495,000 loan amount, the SBA guaranteed $371,250.
More Information on This SBA Loan
The borrower borrowed this money for a new 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 12 employees. The SBA loan documents indicated that the loan would help retain 12 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.
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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Small Business Banks in Los Angeles, California
SBA Lenders in California