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July 20, 2024  
 
 
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Loan Census SBA Loan Info

Where to Get Capital for Drywall, Plastering, Acoustical, and Insulation Contractors

Looking for small business loans for drywall, plastering, acoustical, and insulation contractors? An SBA loan may be just what you've been looking for. This $90,000 drywall, plastering, acoustical, and insulation contractors loan was issued by a California bank.

This company knew how to go about getting a business bank loan. Based in Van Nuys, California, they applied for and were awarded an SBA-guaranteed loan in 2002. The lending bank was Saehan Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: DRYWALL, PLASTERING, ACOUSTICAL, AND INSULATION CONTRACTORS
VAN NUYS, CA 91406

SBA Loan Lender

SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010

This SBA business 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.

NAICS Code

235420 - Drywall, Plastering, Acoustical, and Insulation Contractors

Loan Approval Date

9/26/2002

Loan Approval Gross Amount

$90,000

Loan Approval from the SBA

Of the total $90,000 loan amount, the SBA guaranteed $76,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 20 employees. The loan application did not indicate that the business promised to use the loan proceeds to increase staffing levels or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

Many small businesses receive loans backed by the U.S. Small Business Administration.

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:

Understanding Dilution

Small Bank Loans in Los Angeles, California

Getting an SBA Loan in California