Growing Company Gets a California Business Loan

Want a California bank loan? This California entrepreneur got a bank loan, provided by a Massachusetts bank that works with the SBA to help small business owners.

This business, based in Hollywood, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Oneunited Bank. We've got the inside scoop on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: COURIER SERVICES
HOLLYWOOD, CA 90028

SBA Loan Lender

ONEUNITED BANK
133 FEDERAL ST
BOSTON, MA 02110

This lender issued this particular SBA loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

4215 - Courier Services

Loan Approval Date

2/8/2000

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $60,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 17 employees. This SBA loan request did not indicate that the SBA funding recipient planned to use the funding to hire new employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

If you need money to start a business or need money to grow a business, an SBA loan can be a great funding source

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:

Business Incubators

Who Lends Money to Small Businesses in Boston, Massachusetts

SBA Participating Banks in Massachusetts