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April 17, 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 > Electrical And Electronic Appliance, Television, And Radio Sets Loan | ||||
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SBA Lender Los Angeles
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Los Angeles, California Bank Gives SBA Loan to Electrical And Electronic Appliance, Television, And Radio Sets CompanyA Los Angeles, California SBA loan can be yours. Learn how a company got a $500,000 business loan from this California bank. This loan to a local firm is a good example of an SBA loan. Pacific City Bank made the loan and the SBA guaranteed a portion of the loan. Many other California entrepreneurs have gotten similar loans. If you need money for a business, this may be the best route to take. SBA Loan Borrower COMPANY TYPE: ELECTRICAL AND ELECTRONIC APPLIANCE, TELEVISION, AND RADIO SETS SBA Loan Lender PACIFIC CITY BANK This SBA small business loan was issued by a lender that participates in the SBA Express Loans program. SBA Express loans can be issued in as little as 36 hours. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 423620 - Electrical and Electronic Appliance, Television, and Radio Sets Loan Approval Date 9/7/2004 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $250,000. 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 12 employees. This SBA loan request indicated that the loan would help generate 8 new jobs and retain 12 existing jobs. Great, But How Can I Get an SBA Loan for My Business? SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new 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: Good Banks for Small Business in Los Angeles, California Browse All Business Loan Sources for California
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