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April 19, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Santa Ana, Business Loans > American Security Bank Santa Ana Business Loans > Full-Service Restaurants Loan | ||||
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Getting an SBA 7A Loan in Monrovia, California
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American Security Bank Gives Business Loan to Full-Service Restaurants CompanyCaliforniaBusiness loans are available to California business owners through the SBA. In this case, a California bank provides the loan. This company, based in Monrovia, 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 American Security Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender AMERICAN SECURITY BANK This lender provides SBA small business 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 722110 - Full-Service Restaurants Loan Approval Date 10/28/2003 Loan Approval Gross Amount $1,665,000 Loan Approval from the SBA Of the total $1,665,000 loan amount, the SBA guaranteed $999,000. 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 15 employees. The SBA loan application for the borrower indicated that the loan would help retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. American Security Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, American Security Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Good Banks for Small Business in Santa Ana, California
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