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April 26, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > National Bank Of California Los Angeles Business Loans > Knit Fabric And Lace Mills Loan | ||||
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Small Business Banks in California
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SBA Loans for Knit Fabric and Lace MillsLooking for SBA loans for knit fabric and lace mills? An SBA loan may be just what you've been looking for. This $690,000 knit fabric and lace mills loan was issued by a California bank. This business received financial assistance through the SBA's lending programs back in 2003. They applied for an SBA loan with National Bank Of California, out of Los Angeles, California. The loan was granted and they received $690,000 to help grow their Vernon, California business. SBA Loan Borrower COMPANY TYPE: KNIT FABRIC AND LACE MILLS SBA Loan Lender NATIONAL BANK OF CALIFORNIA This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 313249 - Knit Fabric and Lace Mills Loan Approval Date 11/19/2003 Loan Approval Gross Amount $690,000 Loan Approval from the SBA Of the total $690,000 loan amount, the SBA guaranteed $517,500. 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 12 employees. The loan application indicated that the loan would help retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Banking Deregulation's Effects on Entrepreneurship Small Business Banks in Los Angeles, California
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