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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Convenience Stores Loan | ||||
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SBA Lender California
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Business Loan from Pacific City Bank Given to Convenience Stores CompanyAn SBA loan from Pacific City Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Los Angeles, California business owner got a $200,000 loan. Getting a small business loan in Los Angeles, California was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Pacific City Bank, operating out of Los Angeles, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender PACIFIC CITY BANK This lender provides SBA commercial loans as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 445120 - Convenience Stores Loan Approval Date 11/5/2007 Loan Approval Gross Amount $200,000 Loan Approval from the SBA Of the total $200,000 loan amount, the SBA guaranteed $150,000. 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 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs. Great, But How Can I Get an SBA Loan for My Business? If you are working on finding money to start a business in Los Angeles CA, you ought to talk with a local Los Angeles SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Los Angeles businesses. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Obtaining Funding - Friends and Family SBA 7A Lenders in Los Angeles, California
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