Loan Census Banking News and Information
July 22, 2024  
 
 
  Business Loan Information  
 

California SBA Lenders

 

 
Loan Census SBA Loan Info

Los Angeles, California Bank Gives SBA Loan to Limited-Service Restaurants Company

Want to talk 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 Pacific City Bank worked out well for our friends at one local company in Apple Valley, California. They received an SBA loan for $159,000. Nice!

SBA Loan Borrower

COMPANY TYPE: LIMITED-SERVICE RESTAURANTS
APPLE VALLEY, CA 92307

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

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

722211 - Limited-Service Restaurants

Loan Approval Date

3/21/2007

Loan Approval Gross Amount

$159,000

Loan Approval from the SBA

Of the total $159,000 loan amount, the SBA guaranteed $79,500.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The loan application indicated that the loan would help retain 8 existing jobs.

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

SBA loans can help growing businesses purchase or renovate real estate, acquire fixed assets such as heavy machinery or specialized equipment, borrow working capital for ongoing financing needs, or fund the acquisition of new businesses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pacific City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pacific City 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:

The Art of Bootstrapping

SBA Participating Banks in Los Angeles, California

SBA Lenders in California