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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Goleta, Business Loans > Community W. Bank Goleta Business Loans > Plumbing, Heating, And Air Conditioning Contractors Loan | ||||
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How Hard Is It to Get a Small Business Loan in Glendale, California?
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Financing for Plumbing, Heating, and Air Conditioning ContractorsLooking for commercial loans for plumbing, heating, and air conditioning contractors? The SBA may be the answer. This $570,000 plumbing, heating, and air conditioning contractors loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Glendale, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Community W. Bank, based in Goleta, California. SBA Loan Borrower COMPANY TYPE: PLUMBING, HEATING, AND AIR CONDITIONING CONTRACTORS SBA Loan Lender COMMUNITY W. BANK This lender provides SBA business loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 235110 - Plumbing, Heating, and Air Conditioning Contractors Loan Approval Date 6/6/2001 Loan Approval Gross Amount $570,000 Loan Approval from the SBA Of the total $570,000 loan amount, the SBA guaranteed $427,500. 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 7 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 7 existing jobs. Next Steps for Getting an SBA Loan SBA loans provide smart, affordable business financing for small businesses looking to expand. 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: Who Lends Money to Small Businesses in Goleta, California
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