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April 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Encino, Business Loans > First Commerce Bank Encino Business Loans > Motion Picture And Video Production Loan | ||||
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SBA Loan from First Commerce Bank
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SBA Loan from First Commerce Bank Helps Motion Picture And Video Production CompanyAn SBA loan from First Commerce Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Burbank, California business owner got a $350,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Burbank, California was able to borrow $350,000 from First Commerce Bank. The SBA made the loan possible by guaranteeing $262,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION SBA Loan Lender FIRST COMMERCE BANK This lender issued this SBA business loan under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program was started in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 512110 - Motion Picture and Video Production Loan Approval Date 11/28/2003 Loan Approval Gross Amount $350,000 Loan Approval from the SBA Of the total $350,000 loan amount, the SBA guaranteed $262,500. 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. This SBA loan request did not indicate that the company promised to use the money to increase staffing levels or retain any existing employees. Next Steps for Getting an SBA Loan Although it's called an SBA loan, you 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. While you may be able to find other ways to get money to start a business, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: SBA 7A Lenders in Encino, California
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