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April 27, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Culver City, Business Loans > Alliance Bank Culver City Business Loans > Wired Telecommunications Carriers Loan | ||||
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Inglewood, California Bank Loan
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Bank Loans for Wired Telecommunications CarriersLooking for bank loans for wired telecommunications carriers? Talk to a banker who works with the SBA. This $100,000 wired telecommunications carriers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Inglewood, California was able to borrow $100,000 from Alliance Bank. The SBA made the loan possible by guaranteeing $50,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: WIRED TELECOMMUNICATIONS CARRIERS SBA Loan Lender ALLIANCE BANK The lender provided this bank 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 517110 - Wired Telecommunications Carriers Loan Approval Date 10/5/2007 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 a new business. This loan was not for a franchise. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower indicated that the loan would help generate 20 new jobs and retain 8 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Banks in Culver City, California
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