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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 > Wilshire State Bank Los Angeles Business Loans > Farm Product Raw Material Wholesalers Loan | ||||
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Advice for Business Owners On Getting a Loan
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Get an SBA Loan for Farm Product Raw Material WholesalersLooking for small business loans for farm product raw material wholesalers? Talk to a banker who works with the SBA. This $2,000,000 farm product raw material wholesalers loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Paramount, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Wilshire State Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: FARM PRODUCT RAW MATERIAL WHOLESALERS SBA Loan Lender WILSHIRE STATE BANK This lender issued this loan under the 7A SBA program, in which the SBA provides guaranteed loans to small business owners. This lending program began in 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422590 - Farm Product Raw Material Wholesalers Loan Approval Date 3/22/2006 Loan Approval Gross Amount $2,000,000 Loan Approval from the SBA Of the total $2,000,000 loan amount, the SBA guaranteed $1,500,000. 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 did not indicate that the small business promised to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your 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. Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Wilshire State Bank and they will explain how you can get an SBA loan for your company. 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 for Small Business in Los Angeles, California
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