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April 29, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Far East National Bank Los Angeles Business Loans > Limited-Service Restaurants Loan | ||||
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I Need a Business Loan in Santa Monica, California
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Limited-Service Restaurants Small Business LoansLooking for small business loans for limited-service restaurants? The SBA may be the answer. This $75,000 limited-service restaurants loan was issued by a California bank. This company knew how to go about getting a business bank loan. Based in Santa Monica, California, they applied for and were awarded an SBA-guaranteed loan in 2001. The lending bank was Far East National Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: LIMITED-SERVICE RESTAURANTS SBA Loan Lender FAR EAST NATIONAL BANK 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 722211 - Limited-Service Restaurants Loan Approval Date 10/9/2001 Loan Approval Gross Amount $75,000 Loan Approval from the SBA Of the total $75,000 loan amount, the SBA guaranteed $63,750. 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 6 employees. The SBA loan documents indicated that the loan would help generate 1 new job and retain 1 existing job. Getting an SBA Loan For Your Business If you need money to start a small business or need money for an existing business, an SBA loan can be a great way to raise money The SBA is an excellent funding resource for business owners who cannot easily find funding through conventional funding sources. Banks like Far East National Bank are ready to help you through the process. Whether you need money to open a store, need money to launch a startup business, or are raising money as working capital for an existing entity, the SBA is there 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: Family and Friend Investors - Your First Financiers SBA 7A Lenders in Los Angeles, California
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