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April 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Cathay Bank Los Angeles Business Loans > Home Furnishing Wholesalers Loan | ||||
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Examples of El Monte SBA Loans
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Business Loans for Home Furnishing WholesalersWith these business loans for home furnishing wholesalers, the SBA guarantees the lender that the loan will be repaid. This home furnishing wholesalers loan for $100,000 was given to a California entrepreneur in 2001. This small business knew how to go about getting a business bank loan. Based in El Monte, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Cathay Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: HOME FURNISHING WHOLESALERS SBA Loan Lender CATHAY BANK This lender issued this particular small business loan under the SBA Low Documentation program, which simplifies the SBA loan application process and emphasizes the borrower's character, credit history and projected cash flow. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421220 - Home Furnishing Wholesalers Loan Approval Date 8/6/2001 Loan Approval Gross Amount $100,000 Loan Approval from the SBA Of the total $100,000 loan amount, the SBA guaranteed $85,000. 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 8 employees. The SBA loan documents did not indicate that the company planned to use the loan proceeds to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. We've showcased information on this loan to let you know that businesses like yours can get an SBA loan. 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: Determining Proper Capital Structure for a Business Find an SBA Lender in Los Angeles, California
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