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December 22, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Carlsbad, Business Loans > Wells Fargo Bank Carlsbad Business Loans > Manufacturing Loan | ||||
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How to Get SBA Loans in Santa Fe Springs, California
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Manufacturing Business LoansLooking for business loans for manufacturing? Try the SBA. This $1,665,000 manufacturing loan was issued by a California bank. This small business knew how to go about getting a business bank loan. Based in Santa Fe Springs, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in Carlsbad, California. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender WELLS FARGO BANK 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. NAICS Code 339999 - Manufacturing Loan Approval Date 10/28/2005 Loan Approval Gross Amount $1,665,000 Loan Approval from the SBA Of the total $1,665,000 loan amount, the SBA guaranteed $1,248,750. 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 25 employees. The SBA loan documents indicated that the loan would help retain 25 existing jobs. Great, But How Can I Get an SBA Loan for My Business? For small businesses in need of money, an SBA guaranteed loan is often the best way to obtain financing. 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: Good Banks for Small Business in Carlsbad, California
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