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April 19, 2024 |
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| Home > Small Business Lenders by State > Maine Business Loan Sources > San Francisco, Business Loans > Bank Of The West San Francisco Business Loans > Industrial And Commercial Machinery And Equipment Loan | ||||
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SBA Lender San Francisco, California
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San Francisco, California Bank Gives SBA Loan to Industrial And Commercial Machinery And Equipment CompanyFind San Francisco, California banks that specialize in business loans and know how to work with entrepreneurs. Bank Of The West is one such bank, as evidenced by this SBA loan to one business. Finding a small business loan in Biddeford, Maine starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Bank Of The West. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT SBA Loan Lender BANK OF THE WEST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This SBA small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3599 - Industrial and Commercial Machinery and Equipment NAICS Code 332710 - Machine Shops Loan Approval Date 4/18/2002 Loan Approval Gross Amount $527,000 Loan Approval from the SBA Of the total $527,000 loan amount, the SBA guaranteed $395,250. 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 16 employees. The SBA loan application for the borrower did not indicate that the SBA funding recipient planned to use the funding to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! Remember, 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. 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: The Friends and Family Network SBA Banks in San Francisco, California
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