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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > San Marcos, Business Loans > Discovery Bank San Marcos Business Loans > Iron And Steel Forging Loan | ||||
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Who Lends Money to San Marcos Business Owners
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Discovery Bank Gives SBA Loan to Iron And Steel Forging CompanyCaliforniaBusiness loans are available to California business owners through the SBA. In this case, a California bank provides the loan. You can learn something about getting a small business loan in San Marcos, California by studying this loan to a local business, made back in 2005. Banks like Discovery Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: IRON AND STEEL FORGING SBA Loan Lender DISCOVERY BANK The lender provided this business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 332111 - Iron and Steel Forging Loan Approval Date 5/23/2005 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $50,000. 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 13 employees. The loan application indicated that the loan would help retain 13 existing jobs. Getting an SBA Loan For Your Business Although it's called an SBA loan, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Discovery Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Discovery 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: Small Business Banks in San Marcos, California
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