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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Precision Turned Product Manufacturing Loan | ||||
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Gardena, California Bank Loan
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How to Get a Loan for Precision Turned Product ManufacturingWith these business loans for precision turned product manufacturing, the SBA guarantees the lender that the loan will be repaid. This precision turned product manufacturing loan for $720,000 was given to a California entrepreneur in 2003. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Gardena, California was able to borrow $720,000 from Hanmi Bank. The SBA made the loan possible by guaranteeing $540,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: PRECISION TURNED PRODUCT MANUFACTURING SBA Loan Lender HANMI BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 332721 - Precision Turned Product Manufacturing Loan Approval Date 9/30/2003 Loan Approval Gross Amount $720,000 Loan Approval from the SBA Of the total $720,000 loan amount, the SBA guaranteed $540,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 7 employees. This SBA loan request indicated that the loan would help retain 7 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: How Much Venture Capital Is There? SBA Participating Banks in Los Angeles, California Where to Get an SBA Loan California
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