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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Ventura, Business Loans > First Bank Ventura Business Loans > Lumber, Plywood, Millwork, And Wood Panels Loan | ||||
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Ventura, California SBA 7A Banks
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Ventura, California Lender Lends Money to Lumber, Plywood, Millwork, And Wood Panels CompanyThinking about meeting with a Ventura, California bank about a small business loan? Here's one California business loan, issued by a Ventura bank, that was approved by the SBA. Applying for an SBA loan with First Bank worked out well for our friends at one local company in Ventura, California. The business was able to get an SBA loan for $100,000. Way to go! SBA Loan Borrower COMPANY TYPE: LUMBER, PLYWOOD, MILLWORK, AND WOOD PANELS SBA Loan Lender FIRST BANK This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5031 - Lumber, Plywood, Millwork, and Wood Panels NAICS Code 421310 - Loan Approval Date 6/12/2000 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $80,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The SBA loan documents did not indicate that the business planned to use the money to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 in Ventura, California
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