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April 25, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > City National Bank Los Angeles Business Loans > Bolts, Nuts, Screws, Rivets, And Washers Loan | ||||
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Los Angeles, California SBA 7A Banks
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Los Angeles, California Bank Gives SBA Loan to Bolts, Nuts, Screws, Rivets, And Washers CompanyA Los Angeles, California SBA loan can be yours. Learn how a company got a $885,000 business loan from this California bank. This loan to a local firm is a good example of an SBA loan. City National Bank made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: BOLTS, NUTS, SCREWS, RIVETS, AND WASHERS SBA Loan Lender CITY NATIONAL BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3452 - Bolts, Nuts, Screws, Rivets, and Washers NAICS Code 332722 - Bolt, Nut, Screw, Rivet, and Washer Manufacturing Loan Approval Date 5/12/2000 Loan Approval Gross Amount $885,000 Loan Approval from the SBA Of the total $885,000 loan amount, the SBA guaranteed $327,644. 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 200 employees. The SBA loan application for the borrower indicated that the loan would help retain 200 existing jobs. 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. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into City National Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 Banks in Los Angeles, California
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