Loan Census Banking News and Information
March 28, 2024  
 
 
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Pasadena Bank Loan

 

 
Loan Census SBA Loan Info

Pasadena, California Lender Lends Money to Commercial Lithographic Printing Company

Find Pasadena, California banks that specialize in small business loans and know how to work with entrepreneurs. Community Bank is one such bank, as evidenced by this SBA loan to one business.

Finding a small business loan in Torrance, California starts with an understanding of who else has gotten loans in the area. In this case, a small company received funding from Community Bank. Without an SBA guarantee, it's probable that this company would have had a harder time getting financed.

SBA Loan Borrower

COMPANY TYPE: COMMERCIAL LITHOGRAPHIC PRINTING
TORRANCE, CA 90503

SBA Loan Lender

COMMUNITY BANK
790 E COLORADO BLVD
PASADENA, CA 91101

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

323110 - Commercial Lithographic Printing

Loan Approval Date

10/21/2004

Loan Approval Gross Amount

$1,430,000

Loan Approval from the SBA

Of the total $1,430,000 loan amount, the SBA guaranteed $999,999.

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 24 employees. This SBA loan request indicated that the loan would help retain 24 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA loans typically are available at competitive interest rates and have no balloon payments or annual reviews.

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.

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