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November 21, 2024  
 
 
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SBA Lenders California

 

 
Loan Census SBA Loan Info

Entrepreneur Works With City Of Industry, California Bank to Get an SBA Loan

Want to talk with a City Of Industry, California bank about a small business loan? Here's one California business loan, issued by a City Of Industry bank, that was approved by the SBA.

Applying for an SBA loan with Comerica Bank worked out well for our friends at one local firm in Torrance, California. The business was able to get an SBA loan for $500,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FABRICATED METAL PRODUCT MANUFACTURING
TORRANCE, CA 90501

SBA Loan Lender

COMERICA BANK
13200 CROSSROADS PKWY NORTH,
CITY OF INDUSTRY, CA 91746

The issuing bank for this loan is an SBA 7A lender. The name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide SBA loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

332999 - Fabricated Metal Product Manufacturing

Loan Approval Date

2/25/2003

Loan Approval Gross Amount

$500,000

Loan Approval from the SBA

Of the total $500,000 loan amount, the SBA guaranteed $375,000.

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 only one employee. The SBA loan application for the borrower did not indicate that the SBA funding recipient promised to use the loan proceeds to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This SBA loan was for $500,000. How would you spend $500,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.

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:

Understanding Dilution

Small Bank Loans in City Of Industry, California

California SBA Banks