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April 16, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Security Pacific Bank Los Angeles Business Loans > Motorcycle, Bicycle, And Parts Manufacturing Loan | ||||
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Rancho Cordova (mills), California Bank for SBA Loans
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Security Pacific Bank Gives Business Loan to Motorcycle, Bicycle, And Parts Manufacturing CompanyCaliforniaSmall business loans are available to California small business owners through the SBA. In this case, a California bank provides the loan. This business, based in Rancho Cordova (mills), California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Security Pacific Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: MOTORCYCLE, BICYCLE, AND PARTS MANUFACTURING SBA Loan Lender SECURITY PACIFIC BANK This lender provides SBA debt financing 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 336991 - Motorcycle, Bicycle, and Parts Manufacturing Loan Approval Date 5/1/2007 Loan Approval Gross Amount $570,000 Loan Approval from the SBA Of the total $570,000 loan amount, the SBA guaranteed $427,500. 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 3 employees. The SBA loan application for the borrower indicated that the loan would help generate 5 new jobs and retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options. 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 Security Pacific 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: SBA 7A Banks for Los Angeles, California Loans Getting an SBA Loan in California
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