Entrepreneur Works With Los Angeles, California Bank to Get an SBA Loan

Thinking about meeting with a Los Angeles, California bank about a small business loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA.

Applying for an SBA loan with Wells Fargo Bank, Ltd. worked out well for our friends at one local firm in Reedley, California. The business was able to get an SBA loan for $600,000. Awesome!

SBA Loan Borrower

COMPANY TYPE: MEDICAL, DENTAL AND HOSPITAL EQUIPMENT
REEDLEY, CA 93654

SBA Loan Lender

WELLS FARGO BANK, LTD.
707 WILSHIRE BLVD
LOS ANGELES, CA 90017

The issuing bank for this loan is an SBA 7A lender. Under this program, banks that work with the SBA are able to provide SBA business loans to to our country's hard-working small business owners.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5047 - Medical, Dental and Hospital Equipment

Loan Approval Date

9/15/2000

Loan Approval Gross Amount

$600,000

Loan Approval from the SBA

Of the total $600,000 loan amount, the SBA guaranteed $450,000.

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 11 employees. This SBA loan request did not indicate that the business promised to use the money to hire new employees or retain any existing employees.

Great, But How Can I Get an SBA Loan for My Business?

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

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:

Startup Funding Tip

Banks in Los Angeles, California

Getting an SBA Loan in California