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April 23, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Temple City, Business Loans > United Commercial Bank Temple City Business Loans > Piece Goods, Notions, And Other Dry Goods Loan | ||||
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SBA Lender Los Angeles
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Los Angeles, California Business Gets SBA-Guaranteed Funding from United Commercial BankAn SBA loan from United Commercial Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Los Angeles, California business owner got a $313,000 loan. This business knew how to go about getting a business bank loan. Based in Los Angeles, California, they applied for and received an SBA-guaranteed loan in 2000. The lending bank was United Commercial Bank, based in Temple City, California. SBA Loan Borrower COMPANY TYPE: PIECE GOODS, NOTIONS, AND OTHER DRY GOODS SBA Loan Lender UNITED COMMERCIAL BANK SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This small business loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5131 - Piece Goods, Notions, and Other Dry Goods NAICS Code 422310 - Piece Goods, Notions, and Dry Goods Wholesalers Loan Approval Date 7/20/2000 Loan Approval Gross Amount $313,000 Loan Approval from the SBA Of the total $313,000 loan amount, the SBA guaranteed $234,750. 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 12 employees. This SBA loan request did not indicate that the small business promised to use the funding to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. 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: Best Banks in Temple City, California
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