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November 15, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Ana, Business Loans > American Security Bank Santa Ana Business Loans > Hobby, Toy, And Game Stores Loan | ||||
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Raising Money in Victorville, California With SBA Loans
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Raising Money for Hobby, Toy, and Game StoresLooking for business loans for hobby, toy, and game stores? Talk to a banker who works with the SBA. This $188,700 hobby, toy, and game stores loan was issued by a California bank. Getting a small business loan in Victorville, California was important for this small business back in 2005 and, based on their loan application, they were successful in getting an SBA loan from American Security Bank, operating out of Santa Ana, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: HOBBY, TOY, AND GAME STORES SBA Loan Lender AMERICAN SECURITY BANK This lender provides SBA business 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 451120 - Hobby, Toy, and Game Stores Loan Approval Date 9/13/2005 Loan Approval Gross Amount $188,700 Loan Approval from the SBA Of the total $188,700 loan amount, the SBA guaranteed $141,525. 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 3 employees. The SBA loan documents indicated that the loan would help retain 3 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. 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: SBA 7A Banks in Santa Ana, California
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