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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Fe Springs, Business Loans > East West Bank Santa Fe Springs Business Loans > Industrial Machinery And Equipment Loan | ||||
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SBA 7A Banks for Brea Small Business Owners
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Company Gets a California SBA LoanSBA loans in California are tough to come by these days. We take a look at one California SBA loan, provided by a California bank, that was approved by the SBA. By giving the right information to East West Bank, this Brea, California business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL MACHINERY AND EQUIPMENT SBA Loan Lender EAST WEST BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide SBA bank loans to to entrepreneurs who might have trouble getting a conventional bank loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5084 - Industrial Machinery and Equipment NAICS Code 421830 - Industrial Machinery and Equipment Wholesalers Loan Approval Date 6/13/2000 Loan Approval Gross Amount $528,750 Loan Approval from the SBA Of the total $528,750 loan amount, the SBA guaranteed $396,563. 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 50 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the money to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. This SBA loan was for $528,750. How would you spend $528,750 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: A Company That Helps Entrepreneurs SBA Approved Banks in Santa Fe Springs, California
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