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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cerritos, Business Loans > Gateway Business Bank Cerritos Business Loans > Cut Stock, Resawing Lumber, And Planning Loan | ||||
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How to Get SBA Money in Ontario, California
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Gateway Business Bank Gives Small Business Loan to Cut Stock, Resawing Lumber, And Planning CompanyBank loans in California are tough to come by these days. We take a look at one California bank loan, provided by a California bank, that was approved by the SBA. This small business, based in Ontario, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Gateway Business Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: CUT STOCK, RESAWING LUMBER, AND PLANNING SBA Loan Lender GATEWAY BUSINESS 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 321912 - Cut Stock, Resawing Lumber, and Planning Loan Approval Date 6/8/2005 Loan Approval Gross Amount $1,195,000 Loan Approval from the SBA Of the total $1,195,000 loan amount, the SBA guaranteed $896,250. 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 20 employees. The SBA loan application for the borrower indicated that the loan would help generate 30 new jobs and retain 20 existing jobs. Start the Process for Getting an SBA Loan Today! Many small businesses receive loans backed by the U.S. Small Business Administration. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Gateway Business Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Gateway Business Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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 Cerritos, California Banks for Small Business
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