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May 7, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > New York City, Business Loans > Shinhan Bank America New York City Business Loans > Women's Clothing Stores Loan | ||||
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Shinhan Bank America Business Loan
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Montclair, California Business Gets SBA-Guaranteed Funding from Shinhan Bank AmericaAn SBA loan from Shinhan Bank America typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Montclair, California business owner got a $150,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Montclair, California was able to borrow $150,000 from Shinhan Bank America. The SBA made the loan possible by guaranteeing $75,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: WOMEN'S CLOTHING STORES SBA Loan Lender SHINHAN BANK AMERICA The lender provided this bank loan through the U.S. Small Business Administration (SBA) loan program called the SBA Express Loan program. SBA Express loans are typically used for working capital, inventory purchases and equipment financing. SBA Loan Program Type This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program. NAICS Code 448120 - Women's Clothing Stores Loan Approval Date 12/2/2004 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $75,000. 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 15 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 16 existing jobs. Next Steps for Getting an SBA Loan The Small Business Administration (SBA) provides government-guaranteed loans designed to help small businesses that may not otherwise qualify for credit get the funds they need. SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Shinhan Bank America and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify! 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 New York City, New York
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