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July 20, 2024  
 
 
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I Need an SBA Loan in Los Angeles, California

 

 
Loan Census SBA Loan Info

Nonupholstered Wood Household Furniture Manufacturing Loans

With these loans for nonupholstered wood household furniture manufacturing, the SBA guarantees the lender that the loan will be repaid. This nonupholstered wood household furniture manufacturing loan for $305,000 was given to a California entrepreneur in 2003.

This small firm knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and were awarded an SBA-guaranteed loan in 2003. The lending bank was National Bank Of California, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: NONUPHOLSTERED WOOD HOUSEHOLD FURNITURE MANUFACTURING
LOS ANGELES, CA 90001

SBA Loan Lender

NATIONAL BANK OF CALIFORNIA
145 S FAIRFAX AVE
LOS ANGELES, CA 90036

This bank was authorized by the United States Small Business Administration (SBA) as an official lender for the SBA Preferred Lender Program (PLP). Only the most active and experienced lenders qualify for this SBA lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

337122 - Nonupholstered Wood Household Furniture Manufacturing

Loan Approval Date

12/5/2003

Loan Approval Gross Amount

$305,000

Loan Approval from the SBA

Of the total $305,000 loan amount, the SBA guaranteed $228,750.

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 20 employees. The SBA loan documents indicated that the loan would help generate 10 new jobs and retain 30 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:

Equity Financing

SBA Participating Banks in Los Angeles, California

California SBA 7A Banks