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May 6, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Cathay Bank Los Angeles Business Loans > Motor Vehicle Supplies And New Parts Wholesalers Loan | ||||
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How Hard Is It to Get a Small Business Loan in City Of Industry (industry), California?
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Motor Vehicle Supplies and New Parts Wholesalers Commercial LoansLooking for commercial loans for motor vehicle supplies and new parts wholesalers? An SBA loan may be just what you've been looking for. This $1,519,900 motor vehicle supplies and new parts wholesalers loan was issued by a California bank. Getting a small business loan in City Of Industry (industry), California was important for this business back in 2002 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 California small business loan. SBA Loan Borrower COMPANY TYPE: MOTOR VEHICLE SUPPLIES AND NEW PARTS WHOLESALERS SBA Loan Lender CATHAY BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421120 - Motor Vehicle Supplies and New Parts Wholesalers Loan Approval Date 10/31/2002 Loan Approval Gross Amount $1,519,900 Loan Approval from the SBA Of the total $1,519,900 loan amount, the SBA guaranteed $999,998. 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 9 employees. This SBA loan request indicated that the loan would help generate 1 new job and retain 9 existing jobs. Next Steps for Getting an SBA Loan SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. This SBA loan was for $1,519,900. How would you spend $1,519,900 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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 Approved Banks in Los Angeles, California
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