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April 19, 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 > Dentists Loan | ||||
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California SBA 7A Lenders
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Los Angeles, California Bank Lends Money to Dentists Company in City Of Industry, CaliforniaGet to know Los Angeles, California banks that specialize in business loans and know how to work with entrepreneurs. Cathay Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in City Of Industry, California starts with an understanding of who else has gotten loans in the area. In this case, a local business received funding from Cathay Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: DENTISTS 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 621210 - Dentists Loan Approval Date 8/11/2006 Loan Approval Gross Amount $733,900 Loan Approval from the SBA Of the total $733,900 loan amount, the SBA guaranteed $550,425. 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 6 employees. This SBA loan request indicated that the loan would help generate 2 new jobs and retain 8 existing jobs. Next Steps for Getting an SBA Loan If you want money for new small business in City Of Industry CA, you ought to talk with a local City Of Industry SBA lender or talk with an out-of-area SBA lender that has previously loaned money to City Of Industry businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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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