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April 26, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Cathay Bank Los Angeles Business Loans > Furniture Stores Loan | ||||
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Los Angeles, California SBA 7A Banks
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Entrepreneur Works With Los Angeles, California Bank to Get an SBA LoanWant to talk with a Los Angeles, California bank about a business loan? Here's one California business loan, issued by a Los Angeles bank, that was approved by the SBA. Applying for an SBA loan with Cathay Bank worked out well for our friends at one local firm in Oakland, California. They got an SBA loan for $680,000. Great job! SBA Loan Borrower COMPANY TYPE: FURNITURE STORES SBA Loan Lender CATHAY BANK This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5712 - Furniture Stores NAICS Code 442110 - Furniture Stores Loan Approval Date 4/20/2000 Loan Approval Gross Amount $680,000 Loan Approval from the SBA Of the total $680,000 loan amount, the SBA guaranteed $510,000. 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 5 employees. The loan application did not indicate that the business planned to use the money to increase staffing levels or retain any existing employees. Getting an SBA Loan For Your Business SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process. 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: Banking Deregulation's Effects on Entrepreneurship Where to Get an SBA Loan in Los Angeles, California Getting an SBA Loan in California
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