Cathay Bank SBA Loan to No Industry Type Specified Company
Want a California small business loan? Here's one California business loan that was approved by the SBA.
This small business needed an SBA business loan in Simi Valley (simi), California back in 2001 and, after submitting their loan application, they were successful in getting an SBA loan from Cathay Bank, operating out of Alhambra, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: NO INDUSTRY TYPE SPECIFIED
SIMI VALLEY (SIMI), CA 93065
SBA Loan Lender
CATHAY BANK
1420 E VALLEY BLVD
ALHAMBRA, CA 91801
As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.
SBA Loan Program Type
This loan was issued as a general business loan.
NAICS Code
541710 -
Loan Approval Date
9/14/2001
Loan Approval Gross Amount
$485,000
Loan Approval from the SBA
Of the total $485,000 loan amount, the SBA guaranteed $363,750.
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 37 employees. This SBA loan request indicated that the loan would help generate 18 new jobs and retain 37 existing jobs.
Great, But How Can I Get an SBA Loan for My Business?
Although it's called an SBA loan, 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.
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:
Obtaining Funding - How to Borrow Money
SBA Approved Banks in Alhambra, California
California SBA Bank Lenders