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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Borrego Springs, Business Loans > Borrego Springs Bank Borrego Springs Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Chino, California Bank Loan
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Borrowing Money for Nondurable Goods Merchant WholesalersLooking for loans for nondurable goods merchant wholesalers? An SBA loan may be just what you've been looking for. This $584,000 nondurable goods merchant wholesalers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Chino, California was able to borrow $584,000 from Borrego Springs Bank. The SBA made the loan possible by guaranteeing $438,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender BORREGO SPRINGS BANK This lender provides SBA 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 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 12/9/2004 Loan Approval Gross Amount $584,000 Loan Approval from the SBA Of the total $584,000 loan amount, the SBA guaranteed $438,000. 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 7 employees. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. If you need emergency money for small business, the SBA has special programs for you. We've put a spotlight on this loan from Borrego Springs Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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: Where to Get an SBA Loan in Borrego Springs, California
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