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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Chico, Business Loans > Tri Counties Bank Chico Business Loans > Industrial And Commercial Machinery And Equipment Loan | ||||
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Tri Counties Bank
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Tri Counties Bank SBA Loan to Industrial And Commercial Machinery And Equipment CompanyTri Counties Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a California entrepreneur was able to get a loan to take a small business to the next level. Getting a small business loan in Redding, California was an essential business goal for this small business back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Tri Counties Bank, operating out of Chico, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: INDUSTRIAL AND COMMERCIAL MACHINERY AND EQUIPMENT SBA Loan Lender TRI COUNTIES BANK This lender issued this business loan under the SBA's 7(a) guaranteed loan program, in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3599 - Industrial and Commercial Machinery and Equipment NAICS Code 332999 - Fabricated Metal Product Manufacturing Loan Approval Date 9/30/2003 Loan Approval Gross Amount $1,200,000 Loan Approval from the SBA Of the total $1,200,000 loan amount, the SBA guaranteed $734,040. 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 177 employees. The SBA loan documents did not indicate that the company promised to use the funding to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Tri Counties Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there for you. 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 Chico, California
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