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May 5, 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 > Unsupported Plastics Profile Shapes Manufacturing Loan | ||||
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We Needed a Business Loan in Adelanto, California and We Got One!
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Raising Money for Unsupported Plastics Profile Shapes ManufacturingWith these business loans for unsupported plastics profile shapes manufacturing, the SBA guarantees the lender that the loan will be repaid. This unsupported plastics profile shapes manufacturing loan for $318,100 was given to a California entrepreneur in 2004. This small business knew how to go about getting a business bank loan. Based in Adelanto, California, they applied for and were awarded an SBA-guaranteed loan in 2004. The lending bank was Wells Fargo Bank, based in San Jose, California. SBA Loan Borrower COMPANY TYPE: UNSUPPORTED PLASTICS PROFILE SHAPES MANUFACTURING SBA Loan Lender WELLS FARGO BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 326121 - Unsupported Plastics Profile Shapes Manufacturing Loan Approval Date 12/9/2004 Loan Approval Gross Amount $318,100 Loan Approval from the SBA Of the total $318,100 loan amount, the SBA guaranteed $238,575. 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 65 employees. The loan application indicated that the loan would help retain 65 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Best Banks for Small Business in San Jose, California Where to Get an SBA Loan California
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