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April 19, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Los Angeles, Business Loans > Pacific City Bank Los Angeles Business Loans > Full-Service Restaurants Loan | ||||
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California SBA Banks
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Los Angeles, California Bank Gives SBA Loan to Full-Service Restaurants CompanyThinking about meeting with a Los Angeles, California bank about a business loan? Here's one Virginia 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 Centreville, Virginia. The business was able to get an SBA loan for $277,000. Nice! SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender PACIFIC CITY BANK This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 7/19/2007 Loan Approval Gross Amount $277,000 Loan Approval from the SBA Of the total $277,000 loan amount, the SBA guaranteed $207,750. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 7 employees. The loan application indicated that the loan would help retain 7 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Every year, the SBA guarantees over $10 billion for loans just like this one. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Pacific City Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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: SBA Participating Banks in Los Angeles, California Getting a Business Loan in California
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