Financing for Industrial Machinery and Equipment Merchant Wholesalers

With these loans for industrial machinery and equipment merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This industrial machinery and equipment merchant wholesalers loan for $50,000 was given to a California entrepreneur in 2006.

This small firm knew how to go about getting a business bank loan. Based in Ventura, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was South Valley National Bank A Divis, based in Gilroy, California.

SBA Loan Borrower

COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT MERCHANT WHOLESALERS
Ventura, CA 93004

SBA Loan Lender

SOUTH VALLEY NATIONAL BANK A DIVIS
8000 SANTA TERESA BLVD
GILROY, CA 95020

This lender processed this business loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

423830 - Industrial Machinery and Equipment Merchant Wholesalers

Loan Approval Date

12/28/2006

Loan Approval Gross Amount

$50,000

Loan Approval from the SBA

Of the total $50,000 loan amount, the SBA guaranteed $25,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. The SBA loan documents indicated that the loan would help retain 2 existing jobs.

Getting an SBA Loan For Your Business

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.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

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.

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