California Small Business Loan Issued to Upholstered Household Furniture Manufacturing Company
CaliforniaBank loans are available to California firms through the SBA. In this case, a North Carolina bank provides the loan.
Getting a small business loan in Vernon, California was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Bank Of America. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING
VERNON, CA 90058
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
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
337121 - Upholstered Household Furniture Manufacturing
Loan Approval Date
11/1/2000
Loan Approval Gross Amount
$1,500,000
Loan Approval from the SBA
Of the total $1,500,000 loan amount, the SBA guaranteed $750,000.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company
had 48 employees. The SBA loan documents indicated that the loan would help generate 7 new jobs and retain 48 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA.
This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you want money to buy a franchise? Regardless of why you need money, guaranteed SBA loans may be the right answer for you.
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:
Accountant's Role in Securing Financing
SBA 7A Banks for Charlotte, North Carolina Loans
Getting a Business Loan in North Carolina