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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Ontario, Business Loans > Citizens Business Bank Ontario Business Loans > Nondurable Goods Merchant Wholesalers Loan | ||||
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Gardena, California Bank for SBA Loans
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Nondurable Goods Merchant Wholesalers Commercial LoansLooking for commercial loans for nondurable goods merchant wholesalers? The SBA may be the answer. This $513,500 nondurable goods merchant wholesalers loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Gardena, California, they applied for and were awarded an SBA-guaranteed loan in 2008. The lending bank was Citizens Business Bank, based in Ontario, California. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender CITIZENS BUSINESS BANK This bank loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 424990 - Nondurable Goods Merchant Wholesalers Loan Approval Date 1/17/2008 Loan Approval Gross Amount $513,500 Loan Approval from the SBA Of the total $513,500 loan amount, the SBA guaranteed $385,125. 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 15 employees. This SBA loan request indicated that the loan would help retain 15 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Obtaining Funding - How to Decide How Much to Raise Small Bank Loans in Ontario, California
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