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April 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Buena Park, Business Loans > Los Angeles National Bank Buena Park Business Loans > Nondurable Goods Loan | ||||
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What Does It Take to Get a Business Loan in Santa Fe Springs, California?
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Raising Money for Nondurable Goods WholesalersLooking for business loans for nondurable goods wholesalers? Try the SBA. This $50,000 nondurable goods wholesalers loan was issued by a California bank. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Santa Fe Springs, California was able to borrow $50,000 from Los Angeles National Bank. The SBA made the loan possible by guaranteeing $40,000 of this California small business loan. SBA Loan Borrower COMPANY TYPE: NONDURABLE GOODS SBA Loan Lender LOS ANGELES NATIONAL BANK This was a Low Documentation SBA loan. The SBA started this program to reduce the paperwork associated with getting a loan . The low-doc program requires completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Today, you can borrow up to $100,000 through the low-doc SBA program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 5199 - Nondurable Goods NAICS Code 422990 - Nondurable Goods Wholesalers Loan Approval Date 8/29/2000 Loan Approval Gross Amount $50,000 Loan Approval from the SBA Of the total $50,000 loan amount, the SBA guaranteed $40,000. 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 3 employees. The loan application did not indicate that the SBA funding recipient promised to use the funding 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. This company got an SBA loan. You can too! Maybe you want money for start up business? Maybe you have a business and need capital to get to the next level? Regardless of why you need money, guaranteed SBA loans may be the right answer for you. 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 in Buena Park, California
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