How to Get a Loan for General Merchandise Stores

With these commercial loans for general merchandise stores, the SBA guarantees the lender that the loan will be repaid. This general merchandise stores loan for $160,000 was given to a California entrepreneur in 2004.

This business received financial assistance through the SBA's lending programs back in 2004. They applied for an SBA loan with Mirae Bank, out of Los Angeles, California. The loan was granted and they received $160,000 to help grow their Long Beach, California business.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
LONG BEACH, CA 90806

SBA Loan Lender

MIRAE BANK
3255 WILSHIRE BLVD, STE 1100
LOS ANGELES, CA 90010

This lender processed this commercial loan under the SBA Express program, which offers a streamlined review process in which bankers can process SBA loan applications on an expedited basis.

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

9/13/2004

Loan Approval Gross Amount

$160,000

Loan Approval from the SBA

Of the total $160,000 loan amount, the SBA guaranteed $80,000.

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 only one employee. The loan application indicated that the loan would help retain 7 existing jobs.

Next Steps for Getting an SBA Loan

SBA loans provide money to small business owners for working capital for other expenses.

We can help you find the best banks for small businesses in Long Beach or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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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