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May 5, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Wilshire State Bank Los Angeles Business Loans > Automotive Body, Paint, And Interior Repair And Maintenance Loan | ||||
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Business Loan from Wilshire State Bank
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Business Loan from Wilshire State Bank Given to Automotive Body, Paint, And Interior Repair And Maintenance CompanyAn SBA loan from Wilshire State Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Fullerton, California business owner got a $306,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Fullerton, California was able to borrow $306,000 from Wilshire State Bank. The SBA made the loan possible by guaranteeing $229,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: AUTOMOTIVE BODY, PAINT, AND INTERIOR REPAIR AND MAINTENANCE SBA Loan Lender WILSHIRE STATE BANK Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 811121 - Automotive Body, Paint, and Interior Repair and Maintenance Loan Approval Date 4/17/2007 Loan Approval Gross Amount $306,000 Loan Approval from the SBA Of the total $306,000 loan amount, the SBA guaranteed $229,500. 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 14 employees. The SBA loan application for the borrower indicated that the loan would help retain 14 existing jobs. Start the Process for Getting an SBA Loan Today! Remember, 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. We've showcased information on this loan to let you know that businesses like yours 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: Obtaining Funding - How to Borrow Money Where to Get an SBA Loan in Los Angeles, California Browse All Business Loan Sources for California
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