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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 > Plumbing And Heating Equipment And Supplies Wholesalers Loan | ||||
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Business Loan from Cathay Bank
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Cathay Bank SBA Loan to Plumbing And Heating Equipment And Supplies Wholesalers CompanyCathay Bank is a source for SBA loans that have lower down payments and longer repayment terms than many other financing options. To help you understand SBA loans, we've featured one California entrepreneur who tapped into the power of SBA loans. This business received financial assistance through the SBA's lending programs back in 2002. They applied for an SBA loan with Cathay Bank, out of Los Angeles, California. The loan was granted and they received $500,000 to help grow their San Leandro, California business. SBA Loan Borrower COMPANY TYPE: PLUMBING AND HEATING EQUIPMENT AND SUPPLIES WHOLESALERS SBA Loan Lender CATHAY BANK The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide 7A business loans to to our country's hard-working small business owners. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 421720 - Plumbing and Heating Equipment and Supplies Wholesalers Loan Approval Date 12/12/2002 Loan Approval Gross Amount $500,000 Loan Approval from the SBA Of the total $500,000 loan amount, the SBA guaranteed $375,000. 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 4 employees. This SBA loan request did not indicate that the small business planned to use the loan proceeds to increase staffing levels or retain any existing employees. Start the Process for Getting an SBA Loan Today! SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews. This SBA loan was for $500,000. How would you spend $500,000 on your business? If you apply for an SBA loan, you, like the entrepreneurs at this company, may soon be on your way to achieving your business goals. Contact a participating SBA lender to get started. 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: SBA 7A Banks for Los Angeles, California Loans
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