Borrowing Money for Electric Housewares and Household Fan Manufacturing

With these loans for electric housewares and household fan manufacturing, the SBA guarantees the lender that the loan will be repaid. This electric housewares and household fan manufacturing loan for $762,500 was given to a California entrepreneur in 2001.

This company received financial assistance through the SBA's lending programs back in 2001. They applied for an SBA loan with Mission Oaks National Bank, out of Temecula, California. The loan was granted and they received $762,500 to help grow their Temecula, California business.

SBA Loan Borrower

COMPANY TYPE: ELECTRIC HOUSEWARES AND HOUSEHOLD FAN MANUFACTURING
TEMECULA, CA 92590

SBA Loan Lender

MISSION OAKS NATIONAL BANK
41530 ENTERPRISE CIR, STE 100
TEMECULA, CA 92590

This lender issued this SBA loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program was started in 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.

NAICS Code

335211 - Electric Housewares and Household Fan Manufacturing

Loan Approval Date

11/16/2001

Loan Approval Gross Amount

$762,500

Loan Approval from the SBA

Of the total $762,500 loan amount, the SBA guaranteed $571,875.

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 22 employees. The SBA loan documents did not indicate that the company promised to use the loan proceeds to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need money to start a small business or already have a business and need money to expand, an SBA loan can be a great way to raise money

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Mission Oaks National Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Mission Oaks National 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.

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