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April 24, 2024 |
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| Home > Small Business Lenders by State > California Business Loan Sources > Los Angeles, Business Loans > Center Bank Los Angeles Business Loans > Electronic Parts And Equipment Merchant Wholesalers Loan | ||||
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Stanton, California Bank Loan
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Commercial Loans for Electronic Parts and Equipment Merchant WholesalersLooking for commercial loans for electronic parts and equipment merchant wholesalers? Try the SBA. This $400,000 electronic parts and equipment merchant wholesalers loan was issued by a California bank. This business knew how to go about getting a business bank loan. Based in Stanton, California, they applied for and were awarded an SBA-guaranteed loan in 2006. The lending bank was Center Bank, based in Los Angeles, California. SBA Loan Borrower COMPANY TYPE: ELECTRONIC PARTS AND EQUIPMENT MERCHANT WHOLESALERS SBA Loan Lender CENTER BANK As a member of the SBA's Preferred Lender Program (PLP), this bank is able to streamline the underwriting process and provide a favorable credit decision on behalf of the SBA for long-term loans. PLP lenders can cut through the red tape and accelerate the loan approval process. SBA Loan Program Type This loan was issued as a general business loan. NAICS Code 423690 - Electronic Parts and Equipment Merchant Wholesalers Loan Approval Date 4/26/2006 Loan Approval Gross Amount $400,000 Loan Approval from the SBA Of the total $400,000 loan amount, the SBA guaranteed $360,000. 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 5 employees. This SBA loan request 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. 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: Best Banks for Small Business in Los Angeles, California
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