Loan Census Banking News and Information
July 20, 2024  
 
 
  Business Loan Information  
 

Banks for Reseda, California Small Business Owners

 

 
Loan Census SBA Loan Info

Getting an SBA Loan for Physicians

Looking for business loans for physicians? The SBA may be the answer. This $1,953,000 physicians loan was issued by a California bank.

This business knew how to go about getting a business bank loan. Based in Reseda, California, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Pacific City Bank, based in Los Angeles, California.

SBA Loan Borrower

COMPANY TYPE: PHYSICIANS
Reseda, CA 91335

SBA Loan Lender

PACIFIC CITY BANK
3701 WILSHIRE BLVD, STE 402
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

621111 - Physicians

Loan Approval Date

12/23/2005

Loan Approval Gross Amount

$1,953,000

Loan Approval from the SBA

Of the total $1,953,000 loan amount, the SBA guaranteed $1,464,750.

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 8 employees. This SBA loan request indicated that the loan would help retain 8 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans provide smart, affordable business financing for small businesses looking to expand.

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 Pacific City 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:

Raising VC Money for Social Networking Companies

Best Los Angeles, California Banks for Small Business

Getting an SBA Loan in California