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April 28, 2024 |
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| Home > Small Business Lenders by State > District of Columbia Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Convenience Stores Loan | ||||
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Center Bank Small Business Loans
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SBA Loan from Center Bank Helps Convenience Stores CompanyAn SBA loan from Center Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Washington, District of Columbia business owner got a $105,000 loan. This business received financial assistance through the SBA's lending programs back in 2005. They applied for an SBA loan with Center Bank, out of Los Angeles, California. The loan was granted and they received $105,000 to help grow their Washington, District of Columbia business. SBA Loan Borrower COMPANY TYPE: CONVENIENCE STORES SBA Loan Lender CENTER BANK 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 445120 - Convenience Stores Loan Approval Date 12/5/2005 Loan Approval Gross Amount $105,000 Loan Approval from the SBA Of the total $105,000 loan amount, the SBA guaranteed $89,250. 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. The loan application indicated that the loan would help retain 3 existing jobs. Next Steps for Getting an SBA Loan 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. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Banking Deregulation's Effects on Entrepreneurship Best Banks for Small Business in Los Angeles, California
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