Los Angeles, California Bank Lends Money to Full-Service Restaurants Company in La Canada, California

Want to talk with a Los Angeles, California bank about a business loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA.

Applying for an SBA loan with Nara Bank worked out well for our friends at one local business in La Canada, California. They received an SBA loan for $75,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: FULL-SERVICE RESTAURANTS
LA CANADA, CA 91011

SBA Loan Lender

NARA BANK
3731 WILSHIRE BLVD, STE 1000
LOS ANGELES, CA 90010

This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

722110 - Full-Service Restaurants

Loan Approval Date

5/26/2004

Loan Approval Gross Amount

$75,000

Loan Approval from the SBA

Of the total $75,000 loan amount, the SBA guaranteed $37,500.

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 10 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the money to hire new employees or retain any existing employees.

Getting an SBA Loan For Your Business

If you need business start up money in La Canada CA, you ought to talk with a local La Canada SBA lender or talk with an out-of-area SBA lender that has previously loaned money to La Canada businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Nara Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Nara Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

Financing Your Business

Small Bank Loans in Los Angeles, California

Where to Get an SBA Loan California