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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Corona, Business Loans > Vineyard Bank Corona Business Loans > Furniture Stores Loan | ||||
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Raising Money in Chino, California With SBA Loans
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Furniture Stores SBA LoansLooking for SBA loans for furniture stores? An SBA loan may be just what you've been looking for. This $175,000 furniture stores loan was issued by a California bank. This small business knew how to go about getting a business bank loan. Based in Chino, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Vineyard Bank, based in Corona, California. SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender VINEYARD BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 442110 - Furniture Stores Loan Approval Date 3/21/2006 Loan Approval Gross Amount $175,000 Loan Approval from the SBA Of the total $175,000 loan amount, the SBA guaranteed $131,250. 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 5 employees. The loan application indicated that the loan would help generate 5 new jobs and retain 10 existing jobs. Getting an SBA Loan For Your Business If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great funding source 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 Vineyard 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 Participating Banks in Corona, California
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