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April 20, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Encino, Business Loans > First Commerce Bank Encino Business Loans > Motion Picture And Video Production Loan | ||||
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Encino, California SBA Banks
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Encino, California Bank Gives SBA Loan to Motion Picture And Video Production CompanyGet to know Encino, California banks that specialize in business loans and know how to work with entrepreneurs. First Commerce Bank is one such bank, as evidenced by this SBA loan to a growing company. Finding a small business loan in Santa Monica, California starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from First Commerce Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed. SBA Loan Borrower COMPANY TYPE: MOTION PICTURE AND VIDEO PRODUCTION SBA Loan Lender FIRST COMMERCE BANK This was a Low Documentation SBA loan. The SBA started this program to limit the paperwork associated with borrowing money. The low-doc program involves completion of only a one-page form for a loan of $50,000 or less. The limits have changed over time. Right now, the maximum small business loan for this SBA program is $100,000. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 512110 - Motion Picture and Video Production Loan Approval Date 12/16/2003 Loan Approval Gross Amount $150,000 Loan Approval from the SBA Of the total $150,000 loan amount, the SBA guaranteed $127,500. 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 10 employees. This SBA loan request did not indicate that the small business planned to use the funding to hire new employees or retain any existing employees. Getting an SBA Loan For Your Business The Small Business Administration (SBA) is a federal government agency that has many different programs to help small business owners. The SBA Microloan Program, for example, provides very small loans to start-up, newly established, or growing small business concerns. The SBA also has special programs for women and minorities. However, the most popular SBA program is their loan guarantee program for small businesses. 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 First Commerce 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: Accountant's Role in Securing Financing SBA Approved Banks in Encino, California
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