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May 10, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Cincinnati, Business Loans > U.S. Bank National Association Cincinnati Business Loans > Air-Conditioning, Refrigeration And Heating Loan | ||||
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Stockton, California Bank Loan
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California Business Loan Issued to Air-Conditioning, Refrigeration And Heating CompanySBA loans in California are tough to come by these days. We take a look at one California SBA loan, provided by an Ohio bank, that was approved by the SBA. By giving the right information to U.S. Bank National Association, this Stockton, California business was able to get an SBA loan. To get this loan, the applying company gave the lending institution and the SBA a clear description of what the loan proceeds would be used for and how they intended to pay the loan back. SBA Loan Borrower COMPANY TYPE: AIR-CONDITIONING, REFRIGERATION AND HEATING SBA Loan Lender U.S. BANK NATIONAL ASSOCIATION This SBA loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 3585 - Air-Conditioning, Refrigeration and Heating NAICS Code 321999 - Wood Product Manufacturing Loan Approval Date 3/29/2001 Loan Approval Gross Amount $1,041,000 Loan Approval from the SBA Of the total $1,041,000 loan amount, the SBA guaranteed $780,750. 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 50 employees. The loan application did not indicate that the SBA funding recipient planned to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $1,041,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Determining Proper Capital Structure for a Business Best Cincinnati, Ohio Banks for Small Business
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