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April 19, 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 > Machine Shops Loan | ||||
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Corona, California Bank Loan
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Commercial Loans for Machine ShopsLooking for commercial loans for machine shops? An SBA loan may be just what you've been looking for. This $300,000 machine shops loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Corona, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was American Security Bank, based in Santa Ana, California. SBA Loan Borrower COMPANY TYPE: MACHINE SHOPS SBA Loan Lender AMERICAN SECURITY 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 332710 - Machine Shops Loan Approval Date 5/13/2003 Loan Approval Gross Amount $300,000 Loan Approval from the SBA Of the total $300,000 loan amount, the SBA guaranteed $225,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 17 employees. This SBA loan request indicated that the loan would help retain 17 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into American Security Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Find an SBA Lender in Santa Ana, California
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