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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Victorville, Business Loans > East West Bank, A Division Of Victorville Business Loans > Consumer Electronics Repair And Maintenance Loan | ||||
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We Needed an SBA Loan in Victorville, California and We Got One!
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Consumer Electronics Repair and Maintenance LoansLooking for loans for consumer electronics repair and maintenance? An SBA loan may be just what you've been looking for. This $250,000 consumer electronics repair and maintenance loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Victorville, California was able to borrow $250,000 from East West Bank, A Division Of. The SBA made the loan possible by guaranteeing $125,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: CONSUMER ELECTRONICS REPAIR AND MAINTENANCE SBA Loan Lender EAST WEST BANK, A DIVISION OF The lender provided this SBA small business loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. 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 811211 - Consumer Electronics Repair and Maintenance Loan Approval Date 7/13/2006 Loan Approval Gross Amount $250,000 Loan Approval from the SBA Of the total $250,000 loan amount, the SBA guaranteed $125,000. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Getting an SBA Loan For Your Business Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into East West Bank, A Division Of and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: Family and Friend Investors - Your First Financiers Best Victorville, California Banks for Small Business
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