Loan Census Banking News and Information
July 20, 2024  
 
 
  Business Loan Information  
 

California Small Business Funding

 

 
Loan Census SBA Loan Info

Where to Get Capital for Lessors of Nonresidential Buildings

With these small business loans for lessors of nonresidential buildings, the SBA guarantees the lender that the loan will be repaid. This lessors of nonresidential buildings loan for $1,330,000 was given to a California entrepreneur in 2002.

Getting a small business loan in Los Angeles, California was important for this growing firm back in 2002 and, based on their loan application, they were successful in getting an SBA loan from Saehan Bank, operating out of Los Angeles, California. Here are the details on this California small business loan.

SBA Loan Borrower

COMPANY TYPE: LESSORS OF NONRESIDENTIAL BUILDINGS
LOS ANGELES, CA 90015

SBA Loan Lender

SAEHAN BANK
3580 WILSHIRE BLVD, STE 1500
LOS ANGELES, CA 90010

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

531120 - Lessors of Nonresidential Buildings

Loan Approval Date

8/30/2002

Loan Approval Gross Amount

$1,330,000

Loan Approval from the SBA

Of the total $1,330,000 loan amount, the SBA guaranteed $997,500.

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 6 employees. The SBA loan documents indicated that the loan would help retain 6 existing jobs.

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

SBA 7(a) Loans can be used for nearly any business purpose, such as commercial real estate, construction or renovation for owner-users, business acquisition and start-up, franchise refinancing, refinancing for existing debt, equipment purchases, working capital, and inventory.

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.

Related Links:

504 Loans

Best Banks in Los Angeles, California

Where to Get an SBA Loan California