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March 29, 2024  
 
 
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SBA Lenders for Los Angeles, California Small Business Owners

 

 
Loan Census SBA Loan Info

Raising Money for Beer, Wine, and Liquor Stores

Looking for bank loans for beer, wine, and liquor stores? Try the SBA. This $590,000 beer, wine, and liquor stores loan was issued by a California bank.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Los Angeles, California was able to borrow $590,000 from Cathay Bank. The SBA made the loan possible by guaranteeing $442,500 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: BEER, WINE, AND LIQUOR STORES
LOS ANGELES, CA 90047

SBA Loan Lender

CATHAY BANK
1420 E VALLEY BLVD
ALHAMBRA, CA 91801

As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

445310 - Beer, Wine, and Liquor Stores

Loan Approval Date

2/22/2001

Loan Approval Gross Amount

$590,000

Loan Approval from the SBA

Of the total $590,000 loan amount, the SBA guaranteed $442,500.

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 retain 3 existing jobs.

Next Steps for Getting an SBA Loan

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

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Cathay Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

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:

Business Incubators

SBA 7A Banks for Alhambra, California Loans

California SBA 7A Lenders