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May 2, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Hanmi Bank Los Angeles Business Loans > Full-Service Restaurants Loan | ||||
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Hanmi Bank SBA Loans
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Hanmi Bank SBA Loan to Full-Service Restaurants CompanyAn SBA loan from Hanmi Bank typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a San Marcos, California business owner got a $481,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in San Marcos, California was able to borrow $481,000 from Hanmi Bank. The SBA made the loan possible by guaranteeing $360,750 of this California small business loan. SBA Loan Borrower COMPANY TYPE: FULL-SERVICE RESTAURANTS SBA Loan Lender HANMI BANK This loan for a small business 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. NAICS Code 722110 - Full-Service Restaurants Loan Approval Date 5/21/2001 Loan Approval Gross Amount $481,000 Loan Approval from the SBA Of the total $481,000 loan amount, the SBA guaranteed $360,750. More Information on This SBA Loan The borrower borrowed this money for an existing business. The SBA's records indicate that the loan was not for investment in a franchise. At the time of the loan, the company had 33 employees. The loan application did not indicate that the business planned to use the loan proceeds to add employees or retain any existing employees. Getting an SBA Loan For Your Business SBA loan applications are made through a bank. The SBA guarantees a loan to the bank, so in case the borrower defaults, the bank is guaranteed a portion of the loan by the SBA. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! 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: Small Bank Loans in Los Angeles, California Browse All Business Loan Sources for California
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