 |
 |
April 26, 2024 |
|
|
|
|
||
| Home > Small Business Lenders by State > California Business Loan Sources > Ontario, Business Loans > Citizens Business Bank Ontario Business Loans > No Industry Type Specified Loan | ||||
 |
||||
California Bank SBA Loans
|
||||
 |
Citizens Business Bank SBA Loan to No Industry Type Specified CompanySearching for a California small business loan? Here's one California business loan that was approved by the SBA. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Pasadena, California was able to borrow $150,000 from Citizens Business Bank. The SBA made the loan possible by guaranteeing $75,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED SBA Loan Lender CITIZENS BUSINESS BANK This small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. 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 Loan Approval Date 5/9/2007 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 10 employees. The SBA loan documents indicated that the borrowed money would help generate 5 new jobs. Next Steps for Getting an SBA Loan SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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: SBA Participating Banks in Ontario, California
|
|
||
|
||||
|
|
||||