California Bank Loan Issued to Sheet Metal Work Manufacturing Company

Would a California SBA loan help your business get to the next level? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.

This company, based in Rancho Palos Verdes, 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 Merchants Bank - California Natl. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: SHEET METAL WORK MANUFACTURING
RANCHO PALOS VERDES, CA 90275

SBA Loan Lender

MERCHANTS BANK - CALIFORNIA NATL
1 CIVIC PLAZA DR
CARSON, CA 90745

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

332322 - Sheet Metal Work Manufacturing

Loan Approval Date

9/14/2006

Loan Approval Gross Amount

$268,000

Loan Approval from the SBA

Of the total $268,000 loan amount, the SBA guaranteed $201,000.

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 10 employees. The SBA loan documents indicated that the loan would help retain 10 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

We can help you find the best banks for small businesses in Rancho Palos Verdes or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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.

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