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April 18, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Point Richmond, Business Loans > The Mechanics Bank Point Richmond Business Loans > Manufacturing Loan | ||||
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SBA Lenders in California
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Business Loan from The Mechanics Bank Given to Manufacturing CompanyThe Mechanics Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. This growing company received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with The Mechanics Bank, out of Point Richmond, California. The loan was granted and they received $630,000 to help grow their San Rafael, California business. SBA Loan Borrower COMPANY TYPE: MANUFACTURING SBA Loan Lender THE MECHANICS BANK This SBA 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 339999 - Manufacturing Loan Approval Date 8/19/2002 Loan Approval Gross Amount $630,000 Loan Approval from the SBA Of the total $630,000 loan amount, the SBA guaranteed $472,500. 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 10 employees. The SBA loan application for the borrower did not indicate that the company promised to use the money to add employees or retain any existing employees. Next Steps for Getting an SBA Loan Many small businesses receive loans backed by the U.S. Small Business Administration. This SBA loan was for $630,000. How would you spend $630,000 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. Related Links: Small Bank Loans in Point Richmond, California
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