Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials Loans
With these loans for electrical apparatus, equipment, wiring supplies and construction materials, the SBA guarantees the lender that the loan will be repaid. This electrical apparatus, equipment, wiring supplies and construction materials loan for $346,500 was given to a California entrepreneur in 2000.
The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Corona, California was able to borrow $346,500 from Ge Cap. Small Business Finan Corp. The SBA made the loan possible by guaranteeing $259,875 of this California small business loan.
SBA Loan Borrower
COMPANY TYPE: ELECTRICAL APPARATUS, EQUIPMENT, WIRING SUPPLIES AND CONSTRUCTION MATERIALS
CORONA, CA 91720
SBA Loan Lender
GE CAP. SMALL BUSINESS FINAN CORP
635 MARYVILLE CENTRE DR, STE
ST. LOUIS, MO 63141
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
421610 - Electrical Apparatus, Equipment, Wiring Supplies and Construction Materials
Loan Approval Date
11/29/2000
Loan Approval Gross Amount
$346,500
Loan Approval from the SBA
Of the total $346,500 loan amount, the SBA guaranteed $259,875.
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 retain 5 existing jobs.
Start the Process for Getting an SBA Loan Today!
SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.
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.
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