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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Dallas, Business Loans > Comerica Bank Dallas Business Loans > Search, Detection, Navigation, Guidance, Aeronautical, And Nautical System Loan | ||||
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Advice for Small Businesses On Getting a Loan
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Where to Get Capital for Search, Detection, Navigation, Guidance, Aeronautical, and Nautical SystemLooking for SBA loans for search, detection, navigation, guidance, aeronautical, and nautical system? An SBA loan may be just what you've been looking for. This $430,000 search, detection, navigation, guidance, aeronautical, and nautical system loan was issued by a Texas bank. This small business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Comerica Bank, out of Dallas, Texas. The loan was granted and they received $430,000 to help grow their Laguna Beach, California business. SBA Loan Borrower COMPANY TYPE: SEARCH, DETECTION, NAVIGATION, GUIDANCE, AERONAUTICAL, AND NAUTICAL SYSTEM SBA Loan Lender COMERICA BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 334511 - Search, Detection, Navigation, Guidance, Aeronautical, and Nautical System Loan Approval Date 3/2/2004 Loan Approval Gross Amount $430,000 Loan Approval from the SBA Of the total $430,000 loan amount, the SBA guaranteed $322,500. 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 30 employees. This SBA loan request indicated that the loan would help generate 30 new jobs and retain 30 existing jobs. Start the Process for Getting an SBA Loan Today! 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. 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: Best Dallas, Texas Banks for Small Business
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