Loan Census Banking News and Information
March 28, 2024  
 
 
  Business Loan Information  
 

East West Bank SBA Loans

 

 
Loan Census SBA Loan Info

General Merchandise Stores Commercial Loans

Looking for commercial loans for general merchandise stores? The SBA may be the answer. This $40,000 general merchandise stores loan was issued by a California bank.

This small business received financial assistance through the SBA's lending programs back in 2000. They applied for an SBA loan with East West Bank, out of Pasadena, California. The loan was granted and they received $40,000 to help grow their Camarillo, California business.

SBA Loan Borrower

COMPANY TYPE: VARIETY STORES
CAMARILLO, CA 93010

SBA Loan Lender

EAST WEST BANK
135 N LOS ROBLES AVE, 7TH FL
PASADENA, CA 91101

This bank 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.

SIC Code

5331 - Variety Stores

NAICS Code

452990 - General Merchandise Stores

Loan Approval Date

9/22/2000

Loan Approval Gross Amount

$40,000

Loan Approval from the SBA

Of the total $40,000 loan amount, the SBA guaranteed $32,000.

More Information on This SBA Loan

The borrower borrowed this money for a new 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 only one employee. The SBA loan documents did not indicate that the small business planned to use the loan proceeds to add employees or retain any existing employees.

Getting an SBA Loan For Your Business

The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need.

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 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:

Realistic Debt Financing Options

Where to Get an SBA Loan in Pasadena, California

California SBA Bank Lenders