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April 28, 2024 |
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| Home > Small Business Lenders by State > Nevada Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > General Merchandise Stores Loan | ||||
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Nara Bank SBA Loan
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SBA Loan from Nara Bank Helps General Merchandise Stores CompanyNara Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Nevada entrepreneur was able to get a loan to take a small business to the next level. This small firm received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Nara Bank, out of Los Angeles, California. The loan was granted and they received $150,000 to help grow their Las Vegas, Nevada business. SBA Loan Borrower COMPANY TYPE: GENERAL MERCHANDISE STORES SBA Loan Lender NARA BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 452990 - General Merchandise Stores Loan Approval Date 5/11/2005 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 2 employees. This SBA loan request indicated that the loan would help generate 12 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Nara Bank and they will explain how you can get an SBA loan for your company. 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: Role of Business Plan When Raising Money Good Banks for Small Business in Los Angeles, California Getting an SBA Loan in California
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