Pacific Western Bank Gives Business Loan to No Industry Type Specified Company
Would a California bank loan help help your firm avoid a serious cash crunch? If so, you may want to talk with this California bank, which offers SBA loans to California entrepreneurs.
This company, based in Long Beach, 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 Pacific Western Bank. We've got the inside scoop on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
LONG BEACH, CA 90802
SBA Loan Lender
PACIFIC WESTERN BANK
19950 BEACH BLVD
HUNTINGTON BEACH, CA 92648
This lender issued this SBA bank loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541710 -
Loan Approval Date
9/30/2002
Loan Approval Gross Amount
$500,000
Loan Approval from the SBA
Of the total $500,000 loan amount, the SBA guaranteed $375,000.
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 2 employees. This SBA loan request did not indicate that the business planned to use the money to add employees or retain any existing employees.
Getting an SBA Loan For Your Business
If you are raising money in Long Beach CA, you ought to talk with a local Long Beach SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Long Beach businesses.
Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $500,000 loan. Remember, feel the fear, and do it anyway.
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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