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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 > Nara Bank Los Angeles Business Loans > Full-Service Restaurants Loan | ||||
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Sacramento, California Bank Loan
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Commercial Loans for Full-Service RestaurantsLooking for commercial loans for full-service restaurants? Talk to a banker who works with the SBA. This $171,000 full-service restaurants loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Sacramento, California was able to borrow $171,000 from Nara Bank. The SBA made the loan possible by guaranteeing $85,500 of this California small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender NARA 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 722110 - Full-Service Restaurants Loan Approval Date 6/28/2004 Loan Approval Gross Amount $171,000 Loan Approval from the SBA Of the total $171,000 loan amount, the SBA guaranteed $85,500. 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 8 employees. The SBA loan application for the borrower indicated that the loan would help retain 8 existing jobs. Next Steps for Getting an SBA Loan If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Nara Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Nara Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers. The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail. 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: Obtaining Funding - How to Decide How Much to Raise Banks in Los Angeles, California
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