Loan Census Banking News and Information
July 24, 2024  
 
 
  Business Loan Information  
 

Los Angeles, California Bank Loan

 

 
Loan Census SBA Loan Info

Commercial Loans for Vending Machine Operators

With these commercial loans for vending machine operators, the SBA guarantees the lender that the loan will be repaid. This vending machine operators loan for $357,000 was given to a California entrepreneur in 2003.

This business 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 Saehan Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: VENDING MACHINE OPERATORS
LOS ANGELES, CA 90033

SBA Loan Lender

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

Note that at the time it made this loan, this bank had achieved Preferred Lender Program (PLP) status from the U.S. Small Business Administration (SBA). PLP is the highest status given by the SBA to qualified lending institutions and gives the lending institution full authority to determine eligibility and credit worthiness of an applicant and to approve loans without prior review by the SBA.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

454210 - Vending Machine Operators

Loan Approval Date

2/21/2003

Loan Approval Gross Amount

$357,000

Loan Approval from the SBA

Of the total $357,000 loan amount, the SBA guaranteed $267,750.

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 38 employees. The SBA loan documents indicated that the loan would help retain 38 existing jobs.

Next Steps for Getting an SBA Loan

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

If you need to find money for a business, the SBA has special programs for you. We've put a spotlight on this loan from Saehan Bank so you can get a feel for how SBA loans work. Applying for an SBA loan starts with a visit to a banker that works with the SBA.

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:

Financing Your Business

Where to Get an SBA Loan in Los Angeles, California

SBA Lenders in California