Richmond, California Entrepreneur Gets a Business Loan
Looking to get a California bank loan? This California entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners.
By giving the right information to The Mechanics Bank, this Richmond, California business was able to get an SBA loan. To get this loan, the entrepreneur gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back.
SBA Loan Borrower
COMPANY TYPE: MACHINE TOOLS, METAL CUTTING TYPES
RICHMOND, CA 94804
SBA Loan Lender
THE MECHANICS BANK
1001 W CUTTING BLVD
POINT RICHMOND, CA 94804
SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This bank loan was issued via the SBA 7a lending program.
SBA Loan Program Type
This loan was issued as a general business loan.
SIC Code
3541 - Machine Tools, Metal Cutting Types
NAICS Code
333412 - Industrial and Commercial Fan and Blower Manufacturing
Loan Approval Date
10/27/2003
Loan Approval Gross Amount
$602,000
Loan Approval from the SBA
Of the total $602,000 loan amount, the SBA guaranteed $451,500.
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 8 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees.
Getting an SBA Loan For Your Business
The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses.
This SBA loan was for $602,000. How would you spend $602,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started.
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.
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