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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Burlingame, Business Loans > City National Bank Burlingame Business Loans > Professional Equipment And Supplies Loan | ||||
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California Bank SBA Loans
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City National Bank SBA Loan to Professional Equipment And Supplies CompanySearching for a California small business loan? Here's one California business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Valencia, California was able to borrow $225,000 from City National Bank. The SBA made the loan possible by guaranteeing $168,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PROFESSIONAL EQUIPMENT AND SUPPLIES SBA Loan Lender CITY NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5049 - Professional Equipment and Supplies Loan Approval Date 1/6/2000 Loan Approval Gross Amount $225,000 Loan Approval from the SBA Of the total $225,000 loan amount, the SBA guaranteed $168,750. More Information on This SBA Loan The borrower borrowed this money for an existing 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 24 employees. The SBA loan application for the borrower indicated that the loan would help retain 24 existing jobs. Next Steps for Getting an SBA Loan If you are wondering how to raise money for a business in Valencia CA, you ought to talk with a local Valencia SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Valencia 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. Related Links: Best Burlingame, California Banks for Small Business Getting an SBA Loan in California
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