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April 28, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Pasadena, Business Loans > East West Bank Pasadena Business Loans > Upholstered Household Furniture Manufacturing Loan | ||||
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Banks in Pasadena, California That Make SBA Loans
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Pasadena, California Lender Lends Money to Upholstered Household Furniture Manufacturing CompanyWant to talk with a Pasadena, California bank about an SBA loan? Here's one California business loan, issued by a Pasadena bank, that was approved by the SBA. Applying for an SBA loan with East West Bank worked out well for our friends at one local company in Northridge, California. They got an SBA loan for $120,000. Great job! SBA Loan Borrower COMPANY TYPE: UPHOLSTERED HOUSEHOLD FURNITURE MANUFACTURING SBA Loan Lender EAST WEST BANK This lender issued this loan under the SBA's 7(a) guaranteed loan 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 337121 - Upholstered Household Furniture Manufacturing Loan Approval Date 5/7/2001 Loan Approval Gross Amount $120,000 Loan Approval from the SBA Of the total $120,000 loan amount, the SBA guaranteed $102,000. More Information on This SBA Loan The borrower borrowed this money for a new business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had only one employee. The loan application did not indicate that the small business planned to use the money to hire new employees or retain any existing employees. 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. 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 East West Bank 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: Find an SBA Lender in Pasadena, California Browse All Business Loan Sources for California
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