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May 6, 2024 |
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| Home > Small Business Lenders by State > Massachusetts Business Loan Sources > Los Angeles, Business Loans > Cathay Bank Los Angeles Business Loans > Information Services Loan | ||||
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Get a Business Loan from Cathay Bank
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SBA Loan from Cathay Bank Helps Information Services CompanyCathay Bank has a track record as a leading provider of SBA loans. Find out how this Massachusetts entrepreneur received an SBA loan from them. Getting a small business loan in Boston, Massachusetts was an essential business goal for this small business back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Cathay Bank, operating out of Los Angeles, California. Here are the details on this Massachusetts small business loan. SBA Loan Borrower COMPANY TYPE: INFORMATION SERVICES SBA Loan Lender CATHAY BANK This lender provides SBA debt financing as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 519190 - Information Services Loan Approval Date 1/24/2007 Loan Approval Gross Amount $670,000 Loan Approval from the SBA Of the total $670,000 loan amount, the SBA guaranteed $502,500. 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 only one employee. The SBA loan documents indicated that the loan would help generate 5 new jobs and retain 1 existing job. Start the Process for Getting an SBA Loan Today! Don't apply for a loan directly with the SBA. You need to 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. Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $670,000 loan. It's not easy, but why not give getting an SBA loan of your own a try? 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: Good Banks for Small Business in Los Angeles, California
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