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July 20, 2024  
 
 
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Promerica Bank Torrance

 

 
Loan Census SBA Loan Info

SBA Loan from Promerica Bank Helps Technical And Trade Schools Company

Promerica Bank has a track record as a leading provider of SBA loans. Find out how this California entrepreneur received an SBA loan from them.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Torrance, California was able to borrow $885,000 from Promerica Bank. The SBA made the loan possible by guaranteeing $663,750 of this California small business loan.

SBA Loan Borrower

COMPANY TYPE: TECHNICAL AND TRADE SCHOOLS
TORRANCE, CA 90501

SBA Loan Lender

PROMERICA BANK
888 S FIGUEROA ST, STE 100
LOS ANGELES, CA 90017

The issuing bank for this loan is an SBA 7A lender. This program helps the United States banking system to provide bank loans to to entrepreneurs who might have trouble getting a conventional bank loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

611519 - Technical and Trade Schools

Loan Approval Date

8/20/2007

Loan Approval Gross Amount

$885,000

Loan Approval from the SBA

Of the total $885,000 loan amount, the SBA guaranteed $663,750.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 10 employees. The SBA loan application for the borrower indicated that the funding would help create 10 new jobs.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

Wondering how to raise money quickly? With the SBA's Preferred Lenders Program, LowDoc Program, SBAExpress and CommunityExpress loan programs, an SBA loan can be approved and funded in two days. This company did everything right to get a $885,000 loan. It's not easy, but why not give getting an SBA loan of your own a try?

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:

Role of Business Plan When Raising Money

Where to Get an SBA Loan in Los Angeles, California

California SBA Bank Lenders