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May 3, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Nara Bank Los Angeles Business Loans > Nondurable Goods Wholesalers Loan | ||||
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Raising Money in Los Angeles, California With SBA Loans
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Nara Bank Gives SBA Loan to Nondurable Goods Wholesalers CompanyLooking to get a California bank loan? This California entrepreneur got a bank loan, provided by a California bank that works with the SBA to help small business owners. This company, based in Los Angeles, California, offers a good example of how small businesses get financed. Taking advantage of the SBA's guaranteed loan program, they were able to get a loan from Nara Bank. We've got the inside scoop on this California small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS WHOLESALERS SBA Loan Lender NARA BANK This lender issued this debt financing under the SBA 7A lending program , in which the SBA provides guaranteed loans to small business owners. This lending program dates back to 1953. In the early days of the SBA, these loans were issued directly by the SBA. Today, SBA loans are issued primarily through approved banks and lenders. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 422990 - Nondurable Goods Wholesalers Loan Approval Date 2/5/2001 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. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 8 employees. The SBA loan application for the borrower did not indicate that the small business planned to use the funding to add employees or retain any existing employees. Start the Process for Getting an SBA Loan Today! The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. We've showcased information on this loan to let you know that businesses like yours 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: Banks in Los Angeles, California
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