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July 24, 2024  
 
 
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Loan Census SBA Loan Info

Raising Money for Food Supplement Stores

With these business loans for food supplement stores, the SBA guarantees the lender that the loan will be repaid. This food supplement stores loan for $150,000 was given to a California entrepreneur in 2006.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in La Mirada, California was able to borrow $150,000 from Pacific City Bank. The SBA made the loan possible by guaranteeing $75,000 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: FOOD SUPPLEMENT STORES
LA MIRADA, CA 90638

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
LOS ANGELES, CA 90010

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

446191 - Food Supplement Stores

Loan Approval Date

7/18/2006

Loan Approval Gross Amount

$150,000

Loan Approval from the SBA

Of the total $150,000 loan amount, the SBA guaranteed $75,000.

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 only one employee. The loan application indicated that the loan would help retain 1 existing job.

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

SBA loans provide money to small business owners for working capital for other expenses.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Pacific City Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Pacific City Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

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:

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Getting an SBA Loan in California