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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > Community Bank Pasadena Business Loans > Industrial Mold Manufacturing Loan | ||||
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California SBA Lenders
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Pasadena, California Lender Lends Money to Industrial Mold Manufacturing CompanyThinking about meeting with a Pasadena, California bank about a business loan? Here's one California business loan, issued by a Pasadena bank, that was approved by the SBA. Applying for an SBA loan with Community Bank worked out well for our friends at one local business in Burbank, California. They received an SBA loan for $350,000. Way to go! SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MOLD MANUFACTURING SBA Loan Lender COMMUNITY BANK 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 333511 - Industrial Mold Manufacturing Loan Approval Date 1/25/2006 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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 40 employees. The SBA loan documents indicated that the loan would help retain 40 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $350,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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:
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