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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Las Vegas, Business Loans > Citibank Las Vegas Business Loans > Community Housing Services Loan | ||||
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Long Beach, California Bank Loan
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Community Housing Services LoansLooking for loans for community housing services? The SBA may be the answer. This $50,000 community housing services loan was issued by a Nevada bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Long Beach, California was able to borrow $50,000 from Citibank. The SBA made the loan possible by guaranteeing $25,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: COMMUNITY HOUSING SERVICES SBA Loan Lender CITIBANK 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 624229 - Community Housing Services Loan Approval Date 12/19/2006 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $25,000. 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 15 employees. The SBA loan documents indicated that the loan would help generate 15 new jobs and retain 15 existing jobs. Great, But How Can I Get an SBA Loan for My Business? Don't apply for a loan directly with the SBA. You need to apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan. While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications 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: Obtaining Funding - Friends and Family Best Banks for Small Business in Las Vegas, Nevada
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