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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Saehan Bank Los Angeles Business Loans > Food Supplement Stores Loan | ||||
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Raising Money in Placentia, California With SBA Loans
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Where to Get Capital for Food Supplement StoresLooking for SBA loans for food supplement stores? The SBA may be the answer. This $135,000 food supplement stores loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Placentia, California was able to borrow $135,000 from Saehan Bank. The SBA made the loan possible by guaranteeing $67,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: FOOD SUPPLEMENT STORES SBA Loan Lender SAEHAN BANK This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000. 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 446191 - Food Supplement Stores Loan Approval Date 10/24/2005 Loan Approval Gross Amount $135,000 Loan Approval from the SBA Of the total $135,000 loan amount, the SBA guaranteed $67,500. 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 3 employees. This SBA loan request indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan Remember, you apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Saehan Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Approved Banks in Los Angeles, California Browse All Business Loan Sources for California
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