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May 1, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Supermarkets And Grocery Stores Loan | ||||
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What Does It Take to Get a Business Loan in Maywood, California?
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Small Business Loans for Supermarkets and Grocery StoresLooking for small business loans for supermarkets and grocery stores? An SBA loan may be just what you've been looking for. This $775,000 supermarkets and grocery stores loan was issued by a California bank. Getting a small business loan in Maywood, California was important for this growing firm back in 2005 and, based on their loan application, they were successful in getting an SBA loan from Hanmi Bank, operating out of Los Angeles, California. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: SUPERMARKETS AND GROCERY STORES SBA Loan Lender HANMI BANK This lender provides SBA debt financing 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 445110 - Supermarkets and Grocery Stores Loan Approval Date 7/5/2005 Loan Approval Gross Amount $775,000 Loan Approval from the SBA Of the total $775,000 loan amount, the SBA guaranteed $581,250. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 37 employees. The SBA loan documents indicated that the loan would help retain 37 existing jobs. Getting an SBA Loan For Your Business SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory. 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: Banks in Los Angeles, California Where to Get an SBA Loan California
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