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May 7, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Jose, Business Loans > Wells Fargo Bank San Jose Business Loans > Motor Vehicle Transmission And Power Train Parts Manufacturing Loan | ||||
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We Needed an SBA 7A Loan in Santa Clarita, California and We Got One!
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Motor Vehicle Transmission and Power Train Parts Manufacturing Small Business LoansWith these small business loans for motor vehicle transmission and power train parts manufacturing, the SBA guarantees the lender that the loan will be repaid. This motor vehicle transmission and power train parts manufacturing loan for $30,000 was given to a California entrepreneur in 2005. This small firm knew how to go about getting a business bank loan. Based in Santa Clarita, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE TRANSMISSION AND POWER TRAIN PARTS MANUFACTURING SBA Loan Lender WELLS FARGO BANK The lender provided this small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 336350 - Motor Vehicle Transmission and Power Train Parts Manufacturing Loan Approval Date 11/22/2005 Loan Approval Gross Amount $30,000 Loan Approval from the SBA Of the total $30,000 loan amount, the SBA guaranteed $15,000. 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 documents indicated that the loan would help retain 3 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $30,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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 Approved Banks in San Jose, California
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