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March 28, 2024  
 
 
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Loan Census SBA Loan Info

Raising Money for Cutlery and Flatware Manufacturing

With these bank loans for cutlery and flatware manufacturing, the SBA guarantees the lender that the loan will be repaid. This cutlery and flatware manufacturing loan for $300,000 was given to a California entrepreneur in 2000.

Getting a small business loan in San Diego, California was important for this company back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Pacific Western Bank, operating out of San Diego, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: CUTLERY
SAN DIEGO, CA 92126

SBA Loan Lender

PACIFIC WESTERN BANK
16495 BERNARDO CENTER DR
SAN DIEGO, CA 92128

This loan was provided by a lender with SBA Certified Lenders Program (CLP) status. CLP lenders who submit loans to the SBA get more expeditious service from the SBA on their loan applications.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

3421 - Cutlery

NAICS Code

332211 - Cutlery and Flatware Manufacturing

Loan Approval Date

1/5/2000

Loan Approval Gross Amount

$300,000

Loan Approval from the SBA

Of the total $300,000 loan amount, the SBA guaranteed $225,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 5 employees. The SBA loan documents did not indicate that the small business promised to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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