Financing for Carburetor, Piston, Piston Ring, and Valve Manufacturing
With these commercial loans for carburetor, piston, piston ring, and valve manufacturing, the SBA guarantees the lender that the loan will be repaid. This carburetor, piston, piston ring, and valve manufacturing loan for $22,500 was given to a California entrepreneur in 2003.
This small business knew how to go about getting a business bank loan. Based in Simi Valley (simi), California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was Bank Of America, based in Charlotte, North Carolina.
SBA Loan Borrower
COMPANY TYPE: CARBURETOR, PISTON, PISTON RING, AND VALVE MANUFACTURING
SIMI VALLEY (SIMI), CA 93065
SBA Loan Lender
BANK OF AMERICA
100 N TRYON ST
CHARLOTTE, NC 28255
This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.
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
336311 - Carburetor, Piston, Piston Ring, and Valve Manufacturing
Loan Approval Date
4/14/2003
Loan Approval Gross Amount
$22,500
Loan Approval from the SBA
Of the total $22,500 loan amount, the SBA guaranteed $11,250.
More Information on This SBA Loan
The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company
had only one employee. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job.
Next Steps for Getting an SBA Loan
SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.
While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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:
Obtaining Funding - How to Borrow Money
Find an SBA Lender in Charlotte, North Carolina
Find an SBA Lender in North Carolina