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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Men's And Boys' Cut And Sew Apparel Contractors Loan | ||||
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Vernon, California Bank Loan
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Getting an SBA Loan for Men's and Boys' Cut and Sew Apparel ContractorsLooking for SBA loans for men's and boys' cut and sew apparel contractors? Try the SBA. This $50,000 men's and boys' cut and sew apparel contractors loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Vernon, California was able to borrow $50,000 from Hanmi Bank. The SBA made the loan possible by guaranteeing $25,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: MEN'S AND BOYS' CUT AND SEW APPAREL CONTRACTORS SBA Loan Lender HANMI BANK This lender processed this bank loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis. 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 315211 - Men's and Boys' Cut and Sew Apparel Contractors Loan Approval Date 12/14/2004 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 30 employees. The SBA loan application for the borrower indicated that the loan would help retain 30 existing jobs. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. 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: Borrowing Money from Friends and Family Small Business Banks in Los Angeles, California
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