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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Creve Coeur, Business Loans > First Bank Creve Coeur Business Loans > Toy And Hobby Goods And Supplies Merchant Wholesalers Loan | ||||
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Good Banks for El Monte Business Owners
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Where to Get Capital for Toy and Hobby Goods and Supplies Merchant WholesalersLooking for SBA loans for toy and hobby goods and supplies merchant wholesalers? An SBA loan may be just what you've been looking for. This $100,000 toy and hobby goods and supplies merchant wholesalers loan was issued by a Missouri bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in El Monte, California was able to borrow $100,000 from First Bank. The SBA made the loan possible by guaranteeing $50,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: TOY AND HOBBY GOODS AND SUPPLIES MERCHANT WHOLESALERS SBA Loan Lender FIRST BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 423920 - Toy and Hobby Goods and Supplies Merchant Wholesalers Loan Approval Date 10/9/2007 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had only one employee. The SBA loan application for the borrower indicated that the loan would help retain 1 existing job. Next Steps for Getting an SBA Loan If you are raising money in El Monte CA, you ought to talk with a local El Monte SBA lender or talk with an out-of-area SBA lender that has previously loaned money to El Monte businesses. 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: SBA 7A Banks in Creve Coeur, Missouri
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