Business Loan from Wilshire State Bank Given to Beer, Wine, And Liquor Stores Company

Wilshire State Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Maryland entrepreneur was able to get a loan to take a small business to the next level.

Getting a small business loan in Baltimore, Maryland was an essential business goal for this company back in 2007 and, based on their loan application, they were successful in getting an SBA loan from Wilshire State Bank, operating out of Los Angeles, California. Here are the details on this Maryland small business loan.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
BALTIMORE, MD 21224

SBA Loan Lender

WILSHIRE STATE BANK
3200 WILSHIRE BLVD
LOS ANGELES, CA 90010

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

1/17/2007

Loan Approval Gross Amount

$565,000

Loan Approval from the SBA

Of the total $565,000 loan amount, the SBA guaranteed $423,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. The SBA loan application for the borrower indicated that the loan would help retain 2 existing jobs.

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

If you are raising money in Baltimore MD, you ought to talk with a local Baltimore SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Baltimore businesses.

There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower.

Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today!

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:

Business Line of Credit

SBA 7A Lenders in Los Angeles, California

Getting a Business Loan in California