Loan Census Banking News and Information
March 29, 2024  
 
 
  Business Loan Information  
 

Alhambra, California SBA Banks

 

 
Loan Census SBA Loan Info

Entrepreneur Works With Alhambra, California Bank to Get an SBA Loan

Want to talk with an Alhambra, California bank about a small business loan? Here's one California business loan, issued by an Alhambra bank, that was approved by the SBA.

Applying for an SBA loan with Cathay Bank worked out well for our friends at one local business in Downey, California. The business was able to get an SBA loan for $750,000. Nice!

SBA Loan Borrower

COMPANY TYPE: CHILD DAY CARE SERVICES
DOWNEY, CA 90241

SBA Loan Lender

CATHAY BANK
1420 E VALLEY BLVD
ALHAMBRA, CA 91801

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

624410 - Child Day Care Services

Loan Approval Date

9/27/2002

Loan Approval Gross Amount

$750,000

Loan Approval from the SBA

Of the total $750,000 loan amount, the SBA guaranteed $562,500.

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 18 employees. This SBA loan request indicated that the loan would help retain 18 existing jobs.

Start the Process for Getting an SBA Loan Today!

Many small businesses receive loans backed by the U.S. Small Business Administration.

We can help you find the best banks for small businesses in Downey or anywhere else for that matter. By talking to a number of banks about getting an SBA loan, you will increase your odds of success.

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:

Understanding Dilution

SBA Participating Banks in Alhambra, California

California SBA 7A Banks