Raising Money for Nondurable Goods Merchant Wholesalers

Looking for business loans for nondurable goods merchant wholesalers? An SBA loan may be just what you've been looking for. This $228,200 nondurable goods merchant wholesalers loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Lakeland Village, California was able to borrow $228,200 from Pacific Western Bank. The SBA made the loan possible by guaranteeing $171,150 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: NONDURABLE GOODS MERCHANT WHOLESALERS
LAKELAND VILLAGE, CA 92530

SBA Loan Lender

PACIFIC WESTERN BANK
19950 BEACH BLVD
HUNTINGTON BEACH, CA 92648

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

424990 - Nondurable Goods Merchant Wholesalers

Loan Approval Date

4/7/2004

Loan Approval Gross Amount

$228,200

Loan Approval from the SBA

Of the total $228,200 loan amount, the SBA guaranteed $171,150.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was not for a franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 2 new jobs and retain 3 existing jobs.

Getting an SBA Loan For Your Business

Every year, the SBA guarantees over $10 billion for loans just like this one.

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.

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