Sherman Oaks, California Business Gets SBA-Guaranteed Funding from National Bank Of California
An SBA loan from National Bank Of California typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Sherman Oaks, California business owner got a $150,000 loan.
Getting a small business loan in Sherman Oaks, California was an essential business goal for this small business back in 2006 and, based on their loan application, they were successful in getting an SBA loan from National Bank Of California, operating out of Los Angeles, California. Here are the details on this California small business loan.
SBA Loan Borrower
COMPANY TYPE: JEWELRY MANUFACTURING
SHERMAN OAKS, CA 91423
SBA Loan Lender
NATIONAL BANK OF CALIFORNIA
145 S FAIRFAX AVE
LOS ANGELES, CA 90036
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
339911 - Jewelry Manufacturing
Loan Approval Date
1/20/2006
Loan Approval Gross Amount
$150,000
Loan Approval from the SBA
Of the total $150,000 loan amount, the SBA guaranteed $112,500.
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 5 employees. The SBA loan application for the borrower indicated that the loan would help retain 5 existing jobs.
Next Steps for Getting an SBA Loan
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.
While you may be able to borrow money from friends and family, the SBA is a tried and true source for small business loan guarantees. This loan shows that any business with ambition and the right qualifications can get an SBA loan.
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.
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