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

SBA Lender Altadena California

 

 
Loan Census SBA Loan Info

General Merchandise Stores Business Loans

Looking for business loans for general merchandise stores? Try the SBA. This $700,000 general merchandise stores loan was issued by a California bank.

This small business knew how to go about getting a business bank loan. Based in Altadena, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Saehan Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: GENERAL MERCHANDISE STORES
Altadena, CA 91001

SBA Loan Lender

SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010

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

452990 - General Merchandise Stores

Loan Approval Date

10/2/2006

Loan Approval Gross Amount

$700,000

Loan Approval from the SBA

Of the total $700,000 loan amount, the SBA guaranteed $525,000.

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 no employees. The SBA loan documents indicated that the borrowed money would help create 7 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Folks who know a lot about raising money for companies know that SBA guaranteed loans are a great funding source for small businesses. Talk to a bank like Saehan Bank and they will explain how you can get an SBA loan for your company.

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:

Small Business Credit Cards

Small Business Banks in Los Angeles, California

California SBA 7A Banks