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April 27, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Rancho Santa Margarit, Business Loans > South Cnty Bank Rancho Santa Margarit Business Loans > Durable Goods Merchant Wholesalers Loan | ||||
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We Needed a Small Business Loan in Cerritos, California and We Got One!
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Durable Goods Merchant Wholesalers SBA LoansWith these SBA loans for durable goods merchant wholesalers, the SBA guarantees the lender that the loan will be repaid. This durable goods merchant wholesalers loan for $250,000 was given to a California entrepreneur in 2006. This business knew how to go about getting a business bank loan. Based in Cerritos, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was South Cnty Bank, based in Rancho Santa Margarit, California. SBA Loan Borrower COMPANY TYPE: DURABLE GOODS MERCHANT WHOLESALERS SBA Loan Lender SOUTH CNTY BANK The lender provided this commercial loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423990 - Durable Goods Merchant Wholesalers Loan Approval Date 3/20/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 18 employees. The loan application indicated that the loan would help retain 18 existing jobs. Getting an SBA Loan For Your Business Every year, the SBA guarantees over $10 billion for loans just like this one. If you need emergency money for small businesses, the SBA has special programs for you. We've put a spotlight on this loan from South Cnty Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA. 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 Rancho Santa Margarit, California
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