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April 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Duarte, Business Loans > Inland Commun Bank Duarte Business Loans > Eating Places Loan | ||||
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California Small Business SBA Loans
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Inland Commun Bank Gives SBA Loan to Eating Places CompanyWould 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. Getting a small business loan in Newhall, California was a top priority for this loan applicant back in 2000 and, based on their loan application, they were successful in getting an SBA loan from Inland Commun Bank. Here are the details on this California small business loan. SBA Loan Borrower COMPANY TYPE: EATING PLACES SBA Loan Lender INLAND COMMUN BANK This was a Low Documentation SBA loan. The SBA started this program to minimize the paperwork associated with appliying for an SBA loan . The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Currently, $100,000 is the maximum loan amount. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5812 - Eating Places NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 3/21/2000 Loan Approval Gross Amount $80,000 Loan Approval from the SBA Of the total $80,000 loan amount, the SBA guaranteed $64,000. 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 15 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Next Steps for Getting an SBA Loan 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. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan. 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: Best Banks in Duarte, California
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