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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > City National Bank Los Angeles Business Loans > Manufactured Ice Loan | ||||
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California Small Business SBA Loans
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City National Bank Gives Bank Loan to Manufactured Ice CompanyLooking to get a California business loan? This California entrepreneur got a business loan, provided by a California bank that works with the SBA to help small business owners. You can learn something about getting a small business loan in Torrance, California by studying this loan to a local business, made back in 2000. Banks like City National Bank may also be willing to lend to you, given that they granted this small business loan. SBA Loan Borrower COMPANY TYPE: MANUFACTURED ICE SBA Loan Lender CITY NATIONAL BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 2097 - Manufactured Ice NAICS Code 312113 - Ice Manufacturing Loan Approval Date 4/24/2000 Loan Approval Gross Amount $850,000 Loan Approval from the SBA Of the total $850,000 loan amount, the SBA guaranteed $584,995. 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 15 employees. The loan application indicated that the loan would help generate 15 new jobs and retain 15 existing jobs. Start the Process for Getting an SBA Loan Today! SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. 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. Related Links: Small Bank Loans in Los Angeles, California
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