Huntington Park, California Entrepreneur Gets an SBA Loan
CaliforniaSBA loans are available to California entrepreneurs through the SBA. In this case, a California bank provides the loan.
You can learn something about getting a small business loan in Huntington Park, California by studying this loan to a local business, made back in 2004. Banks like Hanmi Bank may also be willing to lend to you, given that they granted this small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
HUNTINGTON PARK, CA 90255
SBA Loan Lender
HANMI BANK
3660 WILSHIRE BLVD, STE 103
LOS ANGELES, CA 90010
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
421320 -
Loan Approval Date
11/16/2004
Loan Approval Gross Amount
$748,000
Loan Approval from the SBA
Of the total $748,000 loan amount, the SBA guaranteed $561,000.
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 6 employees. This SBA loan request indicated that the loan would help retain 6 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
SBA loans provide smart, affordable business financing for small businesses looking to expand.
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 Hanmi 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.
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SBA Participating Banks in California